Thor Industries (THO) 10-Q8 Jun 212021 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Apr. 30, 2021	May 28, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2021
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	Q3
Entity Central Index Key	0000730263
Current Fiscal Year End Date	--07-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 30, 2021	Jul. 31, 2020
Current assets:
Cash and cash equivalents	$ 294,562	$ 538,519
Restricted cash	2,900	2,844
Accounts receivable, trade, net	769,826	588,069
Factored accounts receivable	122,671	143,278
Accounts receivable, other, net	121,651	82,880
Inventories, net	1,484,054	716,305
Prepaid income taxes, expenses and other	50,124	30,382
Total current assets	2,845,788	2,102,277
Property, plant and equipment, net	1,158,380	1,107,649
Other assets:
Goodwill	1,577,828	1,476,541
Amortizable intangible assets, net	976,261	914,724
Deferred income tax assets, net	49,754	78,738
Other	105,956	91,531
Total other assets	2,709,799	2,561,534
TOTAL ASSETS	6,713,967	5,771,460
Current liabilities:
Accounts payable	1,033,026	636,506
Current portion of long-term debt	12,559	13,817
Short-term financial obligations	34,654	35,939
Accrued liabilities:
Compensation and related items	246,680	160,083
Product warranties	261,965	252,869
Income and other taxes	44,254	83,893
Promotions and rebates	108,893	97,378
Product, property and related liabilities	21,292	15,440
Liabilities related to factored receivables	122,671	143,278
Other	65,927	76,078
Total current liabilities	1,951,921	1,515,281
Long-term debt	1,718,127	1,652,831
Deferred income tax liabilities, net	123,530	123,802
Unrecognized tax benefits	19,864	12,765
Other liabilities	142,603	121,212
Total long-term liabilities	2,004,124	1,910,610
Contingent liabilities and commitments
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	454,327	436,828
Retained earnings	2,562,822	2,201,330
Accumulated other comprehensive income, net of tax	69,211	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.	2,732,699	2,319,782
Non-controlling interests	25,223	25,787
Total stockholders’ equity	2,757,922	2,345,569
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 6,713,967	$ 5,771,460

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Apr. 30, 2021	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		9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Income Statement [Abstract]
Net sales	$ 3,459,264	$ 1,681,735	$ 8,724,412	$ 5,843,653
Cost of products sold	2,953,984	1,476,102	7,425,403	5,072,803
Gross profit	505,280	205,633	1,299,009	770,850
Selling, general and administrative expenses	231,834	128,147	619,786	478,968
Amortization of intangible assets	30,480	24,079	87,110	72,645
Impairment charges	0	0	0	10,057
Interest income	142	847	662	2,796
Interest expense	26,808	26,868	75,248	82,127
Other income (expense), net	16,379	(6,157)	25,430	(5,123)
Income before income taxes	232,679	21,229	542,957	124,726
Income tax provision (benefit)	49,960	(1,555)	113,409	23,071
Net income	182,719	22,784	429,548	101,655
Less: Net (loss) attributable to non-controlling interests	(592)	(1,284)	(44)	(2,151)
Net income attributable to THOR Industries, Inc.	$ 183,311	$ 24,068	$ 429,592	$ 103,806
Weighted-average common shares outstanding:
Basic (in shares)	55,366,241	55,198,756	55,323,080	55,163,943
Diluted (in shares)	55,723,378	55,392,982	55,615,107	55,337,665
Earnings per common share:
Basic (in dollars per share)	$ 3.31	$ 0.44	$ 7.77	$ 1.88
Diluted (in dollars per share)	$ 3.29	$ 0.43	$ 7.72	$ 1.88
Comprehensive income (loss):
Net income	$ 182,719	$ 22,784	$ 429,548	$ 101,655
Other comprehensive income (loss), net of tax
Foreign currency translation adjustment	(7,449)	(25,245)	33,691	(36,154)
Unrealized gain (loss) on derivatives, net of tax	2,929	(7,763)	8,612	(11,709)
Total other comprehensive income (loss), net of tax	(4,520)	(33,008)	42,303	(47,863)
Total Comprehensive income (loss)	178,199	(10,224)	471,851	53,792
Less: Comprehensive income (loss) attributable to non-controlling interests	(647)	(1,483)	41	(2,794)
Comprehensive income (loss) attributable to THOR Industries, Inc.	$ 178,846	$ (8,741)	$ 471,810	$ 56,586

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Cash flows from operating activities:
Net income	$ 429,548	$ 101,655
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	82,533	71,966
Amortization of intangible assets	87,110	72,645
Amortization of debt issuance costs	12,825	8,050
Impairment charges	0	10,057
Deferred income tax (benefit) provision	(4,499)	19,312
(Gain) loss on disposition of property, plant and equipment	(296)	1,524
Stock-based compensation expense	21,424	14,425
Changes in assets and liabilities:
Accounts receivable	(175,635)	219,750
Inventories, net	(632,506)	(62,475)
Prepaid income taxes, expenses and other	(28,280)	(8,963)
Accounts payable	341,535	(137,668)
Accrued liabilities	32,581	(73,621)
Long-term liabilities and other	8,733	612
Net cash provided by operating activities	175,073	237,269
Cash flows from investing activities:
Purchases of property, plant and equipment	(81,162)	(77,302)
Proceeds from dispositions of property, plant and equipment	1,742	26,854
Business acquisitions, net of cash acquired	(310,938)	0
Other	9,330	(5,239)
Net cash used in investing activities	(381,028)	(55,687)
Cash flows from financing activities:
Borrowings on revolving asset-based credit facilities	225,676	379,222
Payments on revolving asset-based credit facilities	(114,836)	(74,776)
Payments on term-loan credit facilities	(59,700)	(199,301)
Payments on other debt	(9,711)	(10,358)
Regular cash dividends paid	(68,100)	(66,239)
Payments on finance lease obligations	(492)	(324)
Payments related to vesting of stock-based awards	(8,317)	(3,763)
Short-term financial obligations and other, net	(7,323)	532
Net cash provided by (used in) financing activities	(42,803)	24,993
Effect of exchange rate changes on cash and cash equivalents and restricted cash	4,857	(2,872)
Net increase (decrease) in cash and cash equivalents and restricted cash	(243,901)	203,703
Cash and cash equivalents and restricted cash, beginning of period	541,363	451,262
Cash and cash equivalents and restricted cash, end of period	297,462	654,965
Cash and cash equivalents and restricted cash, total	297,462	654,965
Supplemental cash flow information:
Income taxes paid	172,397	51,281
Interest paid	62,048	75,709
Non-cash investing and financing transactions:
Capital expenditures in accounts payable	$ 3,497	$ 2,057

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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	101,655			103,806			103,806	(2,151)
Restricted stock unit activity (in shares)		206,624				71,341
Restricted stock unit activity	(2,529)	$ 21	1,213			$ (3,763)	(2,529)
Dividends per common share	(66,239)			(66,239)			(66,239)
Stock-based compensation expense	14,425		14,425				14,425
Other comprehensive income	(47,863)				(47,220)		(47,220)	(643)
Acquisitions	16,835							16,835
Ending balance (in shares) at Apr. 30, 2020		65,396,531				10,197,775
Ending balance at Apr. 30, 2020	2,111,512	$ 6,540	432,020	2,104,241	(104,224)	$ (351,909)	2,086,668	24,844
Beginning balance (in shares) at Jan. 31, 2020		65,396,531				10,197,775
Balance at beginning of period at Jan. 31, 2020	2,122,334	$ 6,540	427,373	2,102,253	(71,415)	$ (351,909)	2,112,842	9,492
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	22,784			24,068			24,068	(1,284)
Restricted stock unit activity	297		297				297
Dividends per common share	(22,080)			(22,080)			(22,080)
Stock-based compensation expense	4,350		4,350				4,350
Other comprehensive income	(33,008)				(32,809)		(32,809)	(199)
Acquisitions	16,835							16,835
Ending balance (in shares) at Apr. 30, 2020		65,396,531				10,197,775
Ending balance at Apr. 30, 2020	2,111,512	$ 6,540	432,020	2,104,241	(104,224)	$ (351,909)	2,086,668	24,844
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	429,548			429,592			429,592	(44)
Restricted stock unit activity (in shares)		255,039				87,554
Restricted stock unit activity	(12,217)	$ 25	(3,925)			$ (8,317)	(12,217)
Dividends per common share	(68,100)			(68,100)			(68,100)
Stock-based compensation expense	21,424		21,424				21,424
Other comprehensive income	42,303				42,218		42,218	85
Dividend paid to non-controlling interest	(605)							(605)
Ending balance (in shares) at Apr. 30, 2021		65,651,570				10,285,329
Ending balance at Apr. 30, 2021	2,757,922	$ 6,565	454,327	2,562,822	69,211	$ (360,226)	2,732,699	25,223
Beginning balance (in shares) at Jan. 31, 2021		65,651,570				10,285,329
Balance at beginning of period at Jan. 31, 2021	2,596,711	$ 6,565	448,010	2,402,211	73,676	$ (360,226)	2,570,236	26,475
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	182,719			183,311			183,311	(592)
Restricted stock unit activity	(2,049)		(2,049)				(2,049)
Dividends per common share	(22,700)			(22,700)			(22,700)
Stock-based compensation expense	8,366		8,366				8,366
Other comprehensive income	(4,520)				(4,465)		(4,465)	(55)
Dividend paid to non-controlling interest	(605)							(605)
Ending balance (in shares) at Apr. 30, 2021		65,651,570				10,285,329
Ending balance at Apr. 30, 2021	$ 2,757,922	$ 6,565	$ 454,327	$ 2,562,822	$ 69,211	$ (360,226)	$ 2,732,699	$ 25,223

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Equity [Abstract]
Cash dividends, per common share (in dollars per share)	$ 0.41	$ 0.40	$ 1.23	$ 1.20

Nature of Operations and Accoun

Nature of Operations and Accounting Policies	9 Months Ended
Nature of Operations and Accounting Policies	Apr. 30, 2021
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 impact of the ongoing COVID-19 pandemic on our industry, among other factors, annualizing the results of operations for the nine months ended April 30, 2021 would not necessarily be indicative of the results expected for the full fiscal year. Recently Adopted Accounting Standards In January 2017, the FASB issued Accounting Standards Update ("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	9 Months Ended
Acquisitions	Apr. 30, 2021
Business Combinations [Abstract]
Acquisitions	Acquisitions Tiffin Group On December 18, 2020, the Company closed on a Stock Purchase Agreement (“Tiffin Group SPA”) for the acquisition of all of the issued and outstanding capital stock of luxury motorized recreational vehicle manufacturer Tiffin Motorhomes, Inc., including fifth wheel towable recreational vehicle manufacturer Vanleigh RV, and certain other associated operating and supply companies, which primarily supply component parts and services to Tiffin Motorhomes, Inc. and Vanleigh RV (collectively, the “Tiffin Group”). Tiffin Group, LLC, a wholly-owned subsidiary of the Company, owns the Tiffin Group. Tiffin Motorhomes, Inc. operates out of various locations in Alabama while Vanleigh RV operates out of Mississippi. The initial cash consideration for the acquisition of the Tiffin Group was approximately $300,000, subject to adjustment, and was funded through existing cash-on-hand as well as $165,000 in borrowings from the Company’s existing asset-based credit facility. The total cash consideration to be paid is subject to the final determination of the actual acquired net working capital, as defined in the Tiffin Group SPA, as of the close of business on December 18, 2020, which determination was finalized in the fourth quarter of fiscal 2021 and the true-up was not material. The Tiffin Group operates as an independent operation in the same manner as the Company’s other recreational vehicle subsidiaries, and its motorized operations are aggregated within the Company’s motorized recreational vehicle reportable segment and its towable operations are aggregated within the Company’s towable recreational vehicle reportable segment. The Company purchased the Tiffin Group to complement its existing motorized and towable RV product offerings and North American independent dealer base. The results of the Tiffin Group are included in the Company’s Condensed Consolidated Statements of Income and Comprehensive Income since the December 18, 2020 acquisition date. The Tiffin Group recorded net sales of $253,636 and net income before income taxes of $8,847 for the period from the date of acquisition through April 30, 2021. Net income before income taxes included a charge of $4,272 related to the step-up in assigned value of acquired Tiffin Group inventory that was included in cost of products sold in the current period, and also includes a charge of $4,248 for the amortization expense related to the acquired backlog and the other acquired amortizable intangible assets. The following table summarizes the estimated fair values of the Tiffin Group net assets acquired on the acquisition date. The Company is in the process of finalizing a fair value analysis, but this analysis has not been fully completed. The provisional amounts related to deferred income tax liabilities and certain accrued expenses remain subject to potential adjustment. The Company expects to finalize these values as soon as practical and no later than one year from the acquisition date. Cash $ 13,074 Inventory 116,441 Other assets 53,860 Property, plant and equipment 48,262 Amortizable intangible assets: Dealer network 92,200 Trademarks 32,100 Non-compete agreements 1,400 Backlog 4,800 Goodwill 62,905 Current liabilities (81,423) Deferred income tax liabilities (35,104) Other liabilities (7,203) Total fair value of net assets acquired 301,312 Less cash acquired (13,074) Total cash consideration for acquisition, less cash acquired $ 288,238 On the acquisition date, amortizable intangible assets had a weighted-average useful life of 18.8 years. The dealer network was valued based on the Discounted Cash Flow Method and will be amortized on an accelerated basis over 18 to 20 years. The trademarks were valued on the Relief from Royalty Method and will be amortized on a straight-line basis over 20 years. Backlog was valued based on the Discounted Cash Flow Method and will be amortized on a straight-line basis over five 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. Prior to the March 23, 2020 effective date of the 2020 Agreement, the Company accounted for the investment in Togo Group under the equity method of accounting, and the Company's share of the losses of this investment were included in Other income (expense), net in the Condensed Consolidated Statements of Income and Comprehensive Income. The Company's share of the losses from this investment recognized in the three and nine-month periods ended April 30, 2020 were $2,137 and $6,884, respectively. The following unaudited pro forma information represents the Company’s results of operations as if the fiscal 2021 acquisition of the Tiffin Group had occurred at the beginning of fiscal 2020 and the fiscal 2020 acquisition of the Togo Group had occurred at the beginning of fiscal 2019. These performance results may not be indicative of the actual results that would have occurred under the ownership and management of the Company. Three Months Ended Nine Months Ended April 30, 2021 April 30, 2021 Net sales $ 3,459,264 $ 8,988,314 Net income attributable to THOR Industries, Inc. $ 183,104 $ 436,817 Basic earnings per common share $ 3.31 $ 7.90 Diluted earnings per common share $ 3.29 $ 7.85 Three Months Ended Nine Months Ended April 30, 2020 April 30, 2020 Net sales $ 1,826,765 $ 6,403,792 Net income attributable to THOR Industries, Inc. $ 20,966 $ 103,623 Basic earnings per common share $ 0.38 $ 1.88 Diluted earnings per common share $ 0.38 $ 1.87

Business Segments

Business Segments	9 Months Ended
Business Segments	Apr. 30, 2021
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 April 30, Nine Months Ended April 30, NET SALES: 2021 2020 2021 2020 Recreational vehicles North American Towables $ 1,726,102 $ 773,391 $ 4,491,327 $ 2,958,186 North American Motorized 775,393 264,037 1,846,243 1,023,606 Total North America 2,501,495 1,037,428 6,337,570 3,981,792 European 894,240 615,343 2,230,191 1,745,465 Total recreational vehicles 3,395,735 1,652,771 8,567,761 5,727,257 Other 106,960 45,632 262,381 176,943 Intercompany eliminations (43,431) (16,668) (105,730) (60,547) Total $ 3,459,264 $ 1,681,735 $ 8,724,412 $ 5,843,653 Three Months Ended April 30, Nine Months Ended April 30, INCOME (LOSS) BEFORE INCOME TAXES: 2021 2020 2021 2020 Recreational vehicles North American Towables $ 167,693 $ 49,261 $ 456,752 $ 207,009 North American Motorized 54,780 10,915 139,768 47,606 Total North America 222,473 60,176 596,520 254,615 European 43,993 (242) 48,703 (18,576) Total recreational vehicles 266,466 59,934 645,223 236,039 Other, net 16,667 3,996 37,801 24,356 Corporate (50,454) (42,701) (140,067) (135,669) Total $ 232,679 $ 21,229 $ 542,957 $ 124,726 TOTAL ASSETS: April 30, 2021 July 31, 2020 Recreational vehicles North American Towables $ 1,802,162 $ 1,529,913 North American Motorized 1,149,043 480,225 Total North America 2,951,205 2,010,138 European 3,206,221 3,102,071 Total recreational vehicles 6,157,426 5,112,209 Other, net 258,531 212,378 Corporate 298,010 446,873 Total $ 6,713,967 $ 5,771,460 DEPRECIATION AND INTANGIBLE AMORTIZATION EXPENSE: Three Months Ended April 30, Nine Months Ended April 30, 2021 2020 2021 2020 Recreational vehicles North American Towables $ 16,904 $ 16,696 $ 49,029 $ 49,398 North American Motorized 7,008 3,600 16,112 10,608 Total North America 23,912 20,296 65,141 60,006 European 31,251 22,049 94,182 75,552 Total recreational vehicles 55,163 42,345 159,323 135,558 Other 3,108 2,676 9,058 7,710 Corporate 418 438 1,262 1,343 Total $ 58,689 $ 45,459 $ 169,643 $ 144,611 Three Months Ended April 30, Nine Months Ended April 30, CAPITAL ACQUISITIONS: 2021 2020 2021 2020 Recreational vehicles North American Towables $ 9,750 $ 5,192 $ 26,071 $ 23,888 North American Motorized 6,716 2,160 12,191 10,588 Total North America 16,466 7,352 38,262 34,476 European 14,889 15,880 38,105 38,057 Total recreational vehicles 31,355 23,232 76,367 72,533 Other 1,427 517 4,087 1,445 Corporate 358 121 747 1,049 Total $ 33,140 $ 23,870 $ 81,201 $ 75,027

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
Earnings Per Common Share	Apr. 30, 2021
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 April 30, Nine Months Ended April 30, 2021 2020 2021 2020 Weighted-average common shares outstanding for basic earnings per share 55,366,241 55,198,756 55,323,080 55,163,943 Unvested restricted stock units 357,137 194,226 292,027 173,722 Weighted-average common shares outstanding assuming dilution 55,723,378 55,392,982 55,615,107 55,337,665 For the three months ended April 30, 2021 and 2020, the Company had 86,946 and 140,481 unvested restricted stock units outstanding, respectively, which were excluded from this calculation as their effect would be antidilutive. For the nine months ended April 30, 2021 and 2020, the Company had 81,557 and 189,090 unvested restricted stock units outstanding, respectively, which were excluded from this calculation as their effect would have been antidilutive.

Derivatives and Hedging

Derivatives and Hedging	9 Months Ended
Derivatives and Hedging	Apr. 30, 2021
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: April 30, 2021 July 31, 2020 Fair Value in Fair Value in Fair Value in Other Current Other Current Other Current Cash Flow Hedges Notional Assets Liabilities Notional Liabilities Foreign currency forward contracts $ 75,110 $ 494 $ — $ — $ — Interest rate swap agreements 532,025 — 14,008 673,400 24,840 Total derivative financial instruments $ 607,135 $ 494 $ 14,008 $ 673,400 $ 24,840 Foreign currency forward contracts accounted for as cash flow hedges and outstanding at April 30, 2021 mature over the next nine months. Net Investment Hedges The foreign currency transaction gains and losses 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 April 30, 2021, net of tax, were $1,984 and losses for the nine months ended April 30, 2021, net of tax, were $8,969. Gains for the three and nine months ended April 30, 2020, net of tax, were $6,293 and $9,136, respectively. There were no amounts reclassified out of accumulated other comprehensive income ("AOCI") pertaining to the net investment hedge during the three and nine-month periods ended April 30, 2021 and April 30, 2020, 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 $33,634 and a fair value of $1,774, which is included in Other current liabilities in the Condensed Consolidated Balance Sheet as of April 30, 2021. 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 April 30, 2021 2020 Gain (Loss) on Derivatives Designated as Cash Flow Hedges Gain (Loss) recognized in Other Comprehensive Income, net of tax Foreign currency forward contracts $ 422 $ 856 Interest rate swap agreements 2,507 (8,619) Total gain (loss) $ 2,929 $ (7,763) Nine Months Ended April 30, 2021 2020 Gain (Loss) on Derivatives Designated as Cash Flow Hedges Gain (Loss) recognized in Other Comprehensive Income, net of tax Foreign currency forward contracts $ 356 $ (159) Interest rate swap agreements 8,256 (11,550) Total gain (loss) $ 8,612 $ (11,709) Three Months Ended April 30, 2021 2020 Interest Interest Sales Expense Sales Expense Gain (Loss) Reclassified from AOCI, Net of Tax Foreign currency forward contracts $ (429) $ — $ (121) $ — Interest rate swap agreements — (2,353) — (1,383) Gain (Loss) on Derivatives Not Designated as Hedging Instruments Amount of loss recognized in income, net of tax Interest rate swap agreements — 108 — (107) Total gain (loss) $ (429) $ (2,245) $ (121) $ (1,490) Nine Months Ended April 30, 2021 2020 Interest Interest Sales Expense Sales Expense Gain (Loss) Reclassified from AOCI, Net of Tax Foreign currency forward contracts $ (422) $ — $ (555) $ — Interest rate swap agreements — (7,750) — (2,897) Gain (Loss) on Derivatives Not Designated as Hedging Instruments Amount of loss recognized in income, net of tax Interest rate swap agreements — 62 — (275) Total gain (loss) $ (422) $ (7,688) $ (555) $ (3,172)

Inventories

Inventories	9 Months Ended
Inventories	Apr. 30, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Major classifications of inventories are as follows: April 30, 2021 July 31, 2020 Finished goods – RV $ 129,030 $ 152,297 Finished goods – other 59,369 44,779 Work in process 370,402 128,181 Raw materials 534,965 302,813 Chassis 445,697 135,194 Subtotal 1,539,463 763,264 Excess of FIFO costs over LIFO costs (55,409) (46,959) Total inventories, net $ 1,484,054 $ 716,305

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
Property, Plant and Equipment	Apr. 30, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment consists of the following: April 30, 2021 July 31, 2020 Land $ 141,166 $ 136,200 Buildings and improvements 815,802 760,986 Machinery and equipment 509,924 438,985 Rental vehicles 64,992 83,534 Lease right-of-use assets – operating 38,545 33,609 Lease right-of-use assets – finance 7,196 3,672 Total cost 1,577,625 1,456,986 Less accumulated depreciation (419,245) (349,337) Property, plant and equipment, net $ 1,158,380 $ 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	9 Months Ended
Intangible Assets and Goodwill	Apr. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill The components of amortizable intangible assets are as follows: April 30, 2021 July 31, 2020 Accumulated Accumulated Cost Amortization Cost Amortization Dealer networks/customer relationships $ 867,483 $ 309,523 $ 766,198 $ 252,320 Trademarks 313,309 59,037 275,775 47,743 Design technology and other intangibles 219,012 57,537 213,468 40,654 Backlog 4,800 3,471 — — Non-compete agreements 1,400 175 — — Total amortizable intangible assets $ 1,406,004 $ 429,743 $ 1,255,441 $ 340,717 Estimated future amortization expense is as follows: For the remainder of the fiscal year ending July 31, 2021 $ 30,178 For the fiscal year ending July 31, 2022 125,339 For the fiscal year ending July 31, 2023 106,759 For the fiscal year ending July 31, 2024 96,863 For the fiscal year ending July 31, 2025 88,655 For the fiscal year ending July 31, 2026 and thereafter 528,467 $ 976,261 Changes in the carrying amount of goodwill by reportable segment for the nine months ended April 30, 2021 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 18,845 43,491 — 17,882 80,218 Measurement period adjustments (7,656) 8,225 — — 569 Foreign currency translation — — 20,500 — 20,500 Net balance as of April 30, 2021 $ 344,975 $ 51,716 $ 1,058,429 $ 122,708 $ 1,577,828 Changes in the carrying amount of goodwill by reportable segment for the nine months ended April 30, 2020 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: Goodwill acquired — — — 62,366 62,366 Measurement period adjustments — — 1,282 — 1,282 Foreign currency translation — — (24,243) — (24,243) Impairment charge (1,036) — — — (1,036) Net balance as of April 30, 2020 $ 333,786 $ — $ 957,378 $ 105,237 $ 1,396,401 During the fiscal quarter ended January 31, 2020, there was an interim impairment assessment performed related to two groups of tangible and intangible assets within the North American Towables reportable segment using Level 3 inputs as defined by ASC 820. The Company recognized an aggregate impairment charge of $10,057 related to these assets during the fiscal year-to-date period ended April 30, 2020, which included a goodwill impairment charge of $1,036.

Concentration of Risk

Concentration of Risk	9 Months Ended
Concentration of Risk	Apr. 30, 2021
Risks and Uncertainties [Abstract]
Concentration of Risk	Concentration of RiskOne dealer, FreedomRoads, LLC, accounted for 13% of the Company's consolidated net sales for the three-month period ended April 30, 2021 and 15% of the Company's consolidated net sales for the three-month period ended April 30, 2020, and 13% for the nine-month period ended April 30, 2021 and 15% for the nine-month period ended April 30, 2020, respectively. Sales to this dealer are reported within both the North American Towables and North American Motorized segments. This dealer also accounted for 15% and 18% of the Company’s consolidated trade accounts receivable at April 30, 2021 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	9 Months Ended
Fair Value Measurements	Apr. 30, 2021
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 April 30, 2021 and July 31, 2020 are as follows: Input Level April 30, 2021 July 31, 2020 Cash equivalents Level 1 $ 211 $ 227,154 Deferred compensation plan mutual fund assets Level 1 $ 46,931 $ 47,327 Deferred compensation plan liabilities Level 1 $ 77,289 $ 61,290 Foreign currency forward contract asset Level 2 $ 494 $ — Interest rate swap liabilities Level 2 $ 15,782 $ 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 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. Foreign currency forward contracts outstanding at April 30, 2021 are used to exchange British Pounds Sterling ("GBP") for Euro. The total notional value of these contracts, including designated hedges and other contracts not designated, at April 30, 2021 is 54,000 GBP ($75,110), and these contracts have various maturity dates through January 31, 2022. 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 April 30, 2021, the outstanding swaps had notional contract values of $532,025, 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 $33,634 at April 30, 2021.

Product Warranties

Product Warranties	9 Months Ended
Product Warranties	Apr. 30, 2021
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 April 30, Nine Months Ended April 30, 2021 2020 2021 2020 Beginning balance $ 251,009 $ 282,065 $ 252,869 $ 289,679 Provision 84,805 35,780 188,546 157,453 Payments (73,767) (59,956) (191,706) (189,254) Acquisition — — 11,032 — Foreign currency translation (82) (12) 1,224 (1) Ending balance $ 261,965 $ 257,877 $ 261,965 $ 257,877

Long-Term Debt

Long-Term Debt	9 Months Ended
Long-Term Debt	Apr. 30, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The components of long-term debt are as follows: April 30, 2021 July 31, 2020 Term loan $ 1,549,621 $ 1,597,091 Asset-based credit facility 110,000 — Unsecured notes 30,205 29,620 Other debt 76,358 84,500 Gross long-term debt 1,766,184 1,711,211 Debt issuance costs, net of amortization (35,498) (44,563) Total long-term debt, net of debt issuance costs 1,730,686 1,666,648 Less: current portion of long-term debt (12,559) (13,817) Total long-term debt, net, less current portion $ 1,718,127 $ 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 April 30, 2021, the entire outstanding U.S. term loan tranche balance of $941,900 was subject to a LIBOR-based rate totaling 3.125%. The interest rate on $532,025 of that balance, however, was fixed at 5.466% 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-based 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 the April 30, 2021 outstanding Euro term loan tranche balance of $607,721 was 3.00%, and the total interest rate on the July 31, 2020 outstanding Euro term loan tranche of $655,191 was 4.00%. As of April 30, 2021, the total interest rate on the outstanding ABL borrowings of $110,000 was 1.375%. 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 penalty or premium. 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 or nine months ended April 30, 2021 or 2020. 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 unused availability under the ABL is generally available to the Company for general operating purposes and, based on April 30, 2021 eligible accounts receivable and inventory balances, net of amounts drawn, totaled approximately $610,000. The unsecured notes of 25,000 Euro ($30,205) relate to long-term debt of our European segment. There are two series, 20,000 Euro ($24,164) with an interest rate of 1.945% maturing in March 2025, and 5,000 Euro ($6,041) with an interest rate of 2.534% maturing March 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 $ 4,202 For the fiscal year ending July 31, 2022 12,264 For the fiscal year ending July 31, 2023 12,390 For the fiscal year ending July 31, 2024 122,519 For the fiscal year ending July 31, 2025 36,557 For the fiscal year ending July 31, 2026 and thereafter 1,578,252 $ 1,766,184 For the three and nine months ended April 30, 2021, interest expense on the term loan, ABL and other debt facilities was $18,361 and $59,612, respectively. For the three and nine months ended April 30, 2020, interest expense on the term loan, ABL and other debt facilities was $22,825 and $71,037, respectively. On March 25, 2021, the Company repriced its term loan debt, which resulted in reductions of the interest rate spread included in the overall interest rates on the Company’s U.S. term loan tranche and the Euro term loan tranche of 0.75% and 1.00%, respectively. This term loan debt repricing was evaluated on a creditor-by-creditor basis to determine whether modification or extinguishment accounting was required under the provisions of ASC 470-50. Extinguishment accounting was applied to a small percentage of the creditors that were deemed to have a substantial difference in terms based on an analysis of the present values of cash flows before and after the repricing. As a result, the Company recorded a debt extinguishment charge of $4,688 in the three months ended April 30, 2021. This charge was recognized through accelerated amortization of unamortized debt issuance costs that is classified as interest expense in the Company’s Condensed Consolidated Statements of Income and Comprehensive Income. For the majority of the creditors, the debt repricing was accounted for as a modification. In 2019, the Company incurred fees ("2019 fees") to secure the term loan and ABL, and those amounts are being amortized ratably over the respective seven

Provision for Income Taxes

Provision for Income Taxes	9 Months Ended
Provision for Income Taxes	Apr. 30, 2021
Income Tax Disclosure [Abstract]
Provision for Income Taxes	Provision for Income Taxes The overall effective income tax rate for the three months ended April 30, 2021 was 21.5%, and the effective income tax rate for the nine months ended April 30, 2021 was 20.9%. These rates were both favorably impacted by certain foreign tax rate differences which include certain interest income not subject to corporate income tax. The overall effective income tax rate for the three months ended April 30, 2020 was (7.3)%, and the effective income tax rate for the nine months ended April 30, 2020 was 18.5%. These rates were both favorably impacted by certain foreign tax rate differences, the mix of earnings between foreign and domestic operations, which include certain interest income not subject to corporate income tax, and, with respect to the three months ended April 30, 2020, a reduction in forecasted, full-year income before income taxes. Within the next 12 months, the Company anticipates a decrease of approximately $7,900 in unrecognized tax benefits, and $2,000 in accrued interest related to unrecognized tax benefits recorded as of April 30, 2021, 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	9 Months Ended
Contingent Liabilities, Commitments and Legal Matters	Apr. 30, 2021
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 $2,149,930 and $1,876,922 as of April 30, 2021 and July 31, 2020, respectively. The commitment term is generally up to 18 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 $7,302 and $7,747 as of April 30, 2021 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 and nine months ended April 30, 2021 and April 30, 2020 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	9 Months Ended
Leases	Apr. 30, 2021
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 through 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 and nine-month periods ended April 30, 2021 and April 30, 2020 were as follows: Three Months Ended April 30, Nine Months Ended April 30, 2021 2020 2021 2020 Operating lease cost $ 5,075 $ 2,920 $ 12,833 $ 9,063 Finance lease cost Amortization of right-of-use assets 164 136 475 408 Interest on lease liabilities 134 131 391 402 Total lease cost $ 5,373 $ 3,187 $ 13,699 $ 9,873 Other information related to leases was as follows: Nine Months Ended April 30, Supplemental Cash Flows Information 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 12,767 $ 8,992 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 9,842 $ 3,777 Finance leases $ 4,000 $ — Supplemental Balance Sheet Information April 30, 2021 July 31, 2020 Operating leases: Operating lease right-of-use assets $ 38,545 $ 33,609 Operating lease liabilities: Other current liabilities $ 7,672 $ 5,343 Other long-term liabilities 31,126 28,456 Total operating lease liabilities $ 38,798 $ 33,799 Finance leases: Finance lease right-of-use assets $ 7,196 $ 3,672 Finance lease liabilities Other current liabilities $ 1,014 $ 505 Other long-term liabilities 5,018 4,743 Total finance lease liabilities $ 6,032 $ 5,248 April 30, 2021 July 31, 2020 Weighted-average remaining lease term: Operating leases 11.8 years 13.6 years Finance leases 5.3 years 6.8 years Weighted-average discount rate: Operating leases 3.2 % 3.4 % Finance leases 8.9 % 9.7 % Future minimum rental payments required under operating and finance leases as of April 30, 2021 were as follows: Operating Leases Financing Leases For the remainder of the fiscal year ending July 31, 2021 $ 3,517 $ 387 For the fiscal year ending July 31, 2022 12,025 1,555 For the fiscal year ending July 31, 2023 9,187 1,578 For the fiscal year ending July 31, 2024 6,449 1,059 For the fiscal year ending July 31, 2025 4,426 1,083 For the fiscal year ending July 31, 2026 and thereafter 19,616 2,062 Total future lease payments 55,220 7,724 Less: amount representing interest (16,422) (1,692) Total reported lease liability $ 38,798 $ 6,032
Leases	Leases The Company has operating leases principally for land, buildings and equipment and has various finance leases for certain land and buildings expiring through 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 and nine-month periods ended April 30, 2021 and April 30, 2020 were as follows: Three Months Ended April 30, Nine Months Ended April 30, 2021 2020 2021 2020 Operating lease cost $ 5,075 $ 2,920 $ 12,833 $ 9,063 Finance lease cost Amortization of right-of-use assets 164 136 475 408 Interest on lease liabilities 134 131 391 402 Total lease cost $ 5,373 $ 3,187 $ 13,699 $ 9,873 Other information related to leases was as follows: Nine Months Ended April 30, Supplemental Cash Flows Information 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 12,767 $ 8,992 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 9,842 $ 3,777 Finance leases $ 4,000 $ — Supplemental Balance Sheet Information April 30, 2021 July 31, 2020 Operating leases: Operating lease right-of-use assets $ 38,545 $ 33,609 Operating lease liabilities: Other current liabilities $ 7,672 $ 5,343 Other long-term liabilities 31,126 28,456 Total operating lease liabilities $ 38,798 $ 33,799 Finance leases: Finance lease right-of-use assets $ 7,196 $ 3,672 Finance lease liabilities Other current liabilities $ 1,014 $ 505 Other long-term liabilities 5,018 4,743 Total finance lease liabilities $ 6,032 $ 5,248 April 30, 2021 July 31, 2020 Weighted-average remaining lease term: Operating leases 11.8 years 13.6 years Finance leases 5.3 years 6.8 years Weighted-average discount rate: Operating leases 3.2 % 3.4 % Finance leases 8.9 % 9.7 % Future minimum rental payments required under operating and finance leases as of April 30, 2021 were as follows: Operating Leases Financing Leases For the remainder of the fiscal year ending July 31, 2021 $ 3,517 $ 387 For the fiscal year ending July 31, 2022 12,025 1,555 For the fiscal year ending July 31, 2023 9,187 1,578 For the fiscal year ending July 31, 2024 6,449 1,059 For the fiscal year ending July 31, 2025 4,426 1,083 For the fiscal year ending July 31, 2026 and thereafter 19,616 2,062 Total future lease payments 55,220 7,724 Less: amount representing interest (16,422) (1,692) Total reported lease liability $ 38,798 $ 6,032

Stockholders' Equity

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Apr. 30, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders’ EquityTotal stock-based compensation expense recognized in the three-month periods ended April 30, 2021 and April 30, 2020 for stock-based awards totaled $8,366 and $4,350, respectively. Total stock-based compensation expense recognized in the nine-month periods ended April 30, 2021 and April 30, 2020 for stock-based awards totaled $21,424 and $14,425, respectively.

Revenue

Revenue	9 Months Ended
Revenue	Apr. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	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 April 30, Nine Months Ended April 30, NET SALES: 2021 2020 2021 2020 Recreational vehicles North American Towables Travel Trailers $ 1,060,058 $ 455,434 $ 2,729,317 $ 1,748,220 Fifth Wheels 666,044 317,957 1,762,010 1,209,966 Total North American Towables 1,726,102 773,391 4,491,327 2,958,186 North American Motorized Class A 323,547 96,849 704,230 384,055 Class C 342,425 144,826 912,124 561,424 Class B 109,421 22,362 229,889 78,127 Total North American Motorized 775,393 264,037 1,846,243 1,023,606 Total North America 2,501,495 1,037,428 6,337,570 3,981,792 European Motorcaravan 489,702 380,023 1,227,182 1,044,178 Campervan 236,988 104,486 529,500 280,006 Caravan 84,074 65,790 210,923 196,731 Other RV-related 83,476 65,044 262,586 224,550 Total European 894,240 615,343 2,230,191 1,745,465 Total recreational vehicles 3,395,735 1,652,771 8,567,761 5,727,257 Other, primarily aluminum extruded components 106,960 45,632 262,381 176,943 Intercompany eliminations (43,431) (16,668) (105,730) (60,547) Total $ 3,459,264 $ 1,681,735 $ 8,724,412 $ 5,843,653

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
Accumulated Other Comprehensive Income (Loss)	Apr. 30, 2021
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 April 30, 2021 2020 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 $ 86,797 $ (13,140) $ (696) $ 72,961 $ (57,987) $ (13,418) $ (1,048) $ (72,453) OCI before reclassifications (7,449) 193 — (7,256) (25,245) (12,059) — (37,304) Income taxes associated with OCI before reclassifications — (46) — (46) — 2,792 — 2,792 Amounts reclassified from AOCI — 3,703 — 3,703 — 1,979 — 1,979 Income taxes associated with amounts reclassified from AOCI — (921) — (921) — (475) — (475) AOCI, net of tax 79,348 (10,211) (696) 68,441 (83,232) (21,181) (1,048) (105,461) Less: AOCI attributable to noncontrolling interest (770) — — (770) (1,237) — — (1,237) AOCI, net of tax, attributable to THOR Industries, Inc. $ 80,118 $ (10,211) $ (696) $ 69,211 $ (81,995) $ (21,181) $ (1,048) $ (104,224) Nine Months Ended April 30, 2021 2020 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 33,691 573 — 34,264 (36,154) (19,885) — (56,039) Income taxes associated with OCI before reclassifications — (133) — (133) — 4,724 — 4,724 Amounts reclassified from AOCI — 10,752 — 10,752 — 4,561 — 4,561 Income taxes associated with amounts reclassified from AOCI — (2,580) — (2,580) — (1,109) — (1,109) AOCI, net of tax 79,348 (10,211) (696) 68,441 (83,232) (21,181) (1,048) (105,461) Less: AOCI attributable to noncontrolling interest (770) — — (770) (1,237) — — (1,237) AOCI, net of tax, attributable to THOR Industries, Inc. $ 80,118 $ (10,211) $ (696) $ 69,211 $ (81,995) $ (21,181) $ (1,048) $ (104,224) 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)	9 Months Ended
Nature of Operations and Accounting Policies (Policies)	Apr. 30, 2021
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 impact of the ongoing COVID-19 pandemic on our industry, among other factors, annualizing the results of operations for the nine months ended April 30, 2021 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 Accounting Standards Update ("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)	9 Months Ended
Acquisitions (Tables)	Apr. 30, 2021
Business Combinations [Abstract]
Schedule of recognized identified assets acquired and liabilities assumed	The following table summarizes the estimated fair values of the Tiffin Group net assets acquired on the acquisition date. The Company is in the process of finalizing a fair value analysis, but this analysis has not been fully completed. The provisional amounts related to deferred income tax liabilities and certain accrued expenses remain subject to potential adjustment. The Company expects to finalize these values as soon as practical and no later than one year from the acquisition date. Cash $ 13,074 Inventory 116,441 Other assets 53,860 Property, plant and equipment 48,262 Amortizable intangible assets: Dealer network 92,200 Trademarks 32,100 Non-compete agreements 1,400 Backlog 4,800 Goodwill 62,905 Current liabilities (81,423) Deferred income tax liabilities (35,104) Other liabilities (7,203) Total fair value of net assets acquired 301,312 Less cash acquired (13,074) Total cash consideration for acquisition, less cash acquired $ 288,238 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 Acquisition, Pro Forma Information	The following unaudited pro forma information represents the Company’s results of operations as if the fiscal 2021 acquisition of the Tiffin Group had occurred at the beginning of fiscal 2020 and the fiscal 2020 acquisition of the Togo Group had occurred at the beginning of fiscal 2019. These performance results may not be indicative of the actual results that would have occurred under the ownership and management of the Company. Three Months Ended Nine Months Ended April 30, 2021 April 30, 2021 Net sales $ 3,459,264 $ 8,988,314 Net income attributable to THOR Industries, Inc. $ 183,104 $ 436,817 Basic earnings per common share $ 3.31 $ 7.90 Diluted earnings per common share $ 3.29 $ 7.85 Three Months Ended Nine Months Ended April 30, 2020 April 30, 2020 Net sales $ 1,826,765 $ 6,403,792 Net income attributable to THOR Industries, Inc. $ 20,966 $ 103,623 Basic earnings per common share $ 0.38 $ 1.88 Diluted earnings per common share $ 0.38 $ 1.87

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
Business Segments (Tables)	Apr. 30, 2021
Segment Reporting [Abstract]
Schedule of segment reporting information by segment	The following tables reflect certain financial information by reportable segment: Three Months Ended April 30, Nine Months Ended April 30, NET SALES: 2021 2020 2021 2020 Recreational vehicles North American Towables $ 1,726,102 $ 773,391 $ 4,491,327 $ 2,958,186 North American Motorized 775,393 264,037 1,846,243 1,023,606 Total North America 2,501,495 1,037,428 6,337,570 3,981,792 European 894,240 615,343 2,230,191 1,745,465 Total recreational vehicles 3,395,735 1,652,771 8,567,761 5,727,257 Other 106,960 45,632 262,381 176,943 Intercompany eliminations (43,431) (16,668) (105,730) (60,547) Total $ 3,459,264 $ 1,681,735 $ 8,724,412 $ 5,843,653 Three Months Ended April 30, Nine Months Ended April 30, INCOME (LOSS) BEFORE INCOME TAXES: 2021 2020 2021 2020 Recreational vehicles North American Towables $ 167,693 $ 49,261 $ 456,752 $ 207,009 North American Motorized 54,780 10,915 139,768 47,606 Total North America 222,473 60,176 596,520 254,615 European 43,993 (242) 48,703 (18,576) Total recreational vehicles 266,466 59,934 645,223 236,039 Other, net 16,667 3,996 37,801 24,356 Corporate (50,454) (42,701) (140,067) (135,669) Total $ 232,679 $ 21,229 $ 542,957 $ 124,726 TOTAL ASSETS: April 30, 2021 July 31, 2020 Recreational vehicles North American Towables $ 1,802,162 $ 1,529,913 North American Motorized 1,149,043 480,225 Total North America 2,951,205 2,010,138 European 3,206,221 3,102,071 Total recreational vehicles 6,157,426 5,112,209 Other, net 258,531 212,378 Corporate 298,010 446,873 Total $ 6,713,967 $ 5,771,460 DEPRECIATION AND INTANGIBLE AMORTIZATION EXPENSE: Three Months Ended April 30, Nine Months Ended April 30, 2021 2020 2021 2020 Recreational vehicles North American Towables $ 16,904 $ 16,696 $ 49,029 $ 49,398 North American Motorized 7,008 3,600 16,112 10,608 Total North America 23,912 20,296 65,141 60,006 European 31,251 22,049 94,182 75,552 Total recreational vehicles 55,163 42,345 159,323 135,558 Other 3,108 2,676 9,058 7,710 Corporate 418 438 1,262 1,343 Total $ 58,689 $ 45,459 $ 169,643 $ 144,611 Three Months Ended April 30, Nine Months Ended April 30, CAPITAL ACQUISITIONS: 2021 2020 2021 2020 Recreational vehicles North American Towables $ 9,750 $ 5,192 $ 26,071 $ 23,888 North American Motorized 6,716 2,160 12,191 10,588 Total North America 16,466 7,352 38,262 34,476 European 14,889 15,880 38,105 38,057 Total recreational vehicles 31,355 23,232 76,367 72,533 Other 1,427 517 4,087 1,445 Corporate 358 121 747 1,049 Total $ 33,140 $ 23,870 $ 81,201 $ 75,027

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
Earnings Per Common Share (Tables)	Apr. 30, 2021
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 April 30, Nine Months Ended April 30, 2021 2020 2021 2020 Weighted-average common shares outstanding for basic earnings per share 55,366,241 55,198,756 55,323,080 55,163,943 Unvested restricted stock units 357,137 194,226 292,027 173,722 Weighted-average common shares outstanding assuming dilution 55,723,378 55,392,982 55,615,107 55,337,665

Derivatives and Hedging (Tables

Derivatives and Hedging (Tables)	9 Months Ended
Derivatives and Hedging (Tables)	Apr. 30, 2021
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: April 30, 2021 July 31, 2020 Fair Value in Fair Value in Fair Value in Other Current Other Current Other Current Cash Flow Hedges Notional Assets Liabilities Notional Liabilities Foreign currency forward contracts $ 75,110 $ 494 $ — $ — $ — Interest rate swap agreements 532,025 — 14,008 673,400 24,840 Total derivative financial instruments $ 607,135 $ 494 $ 14,008 $ 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 April 30, 2021 2020 Gain (Loss) on Derivatives Designated as Cash Flow Hedges Gain (Loss) recognized in Other Comprehensive Income, net of tax Foreign currency forward contracts $ 422 $ 856 Interest rate swap agreements 2,507 (8,619) Total gain (loss) $ 2,929 $ (7,763) Nine Months Ended April 30, 2021 2020 Gain (Loss) on Derivatives Designated as Cash Flow Hedges Gain (Loss) recognized in Other Comprehensive Income, net of tax Foreign currency forward contracts $ 356 $ (159) Interest rate swap agreements 8,256 (11,550) Total gain (loss) $ 8,612 $ (11,709) Three Months Ended April 30, 2021 2020 Interest Interest Sales Expense Sales Expense Gain (Loss) Reclassified from AOCI, Net of Tax Foreign currency forward contracts $ (429) $ — $ (121) $ — Interest rate swap agreements — (2,353) — (1,383) Gain (Loss) on Derivatives Not Designated as Hedging Instruments Amount of loss recognized in income, net of tax Interest rate swap agreements — 108 — (107) Total gain (loss) $ (429) $ (2,245) $ (121) $ (1,490) Nine Months Ended April 30, 2021 2020 Interest Interest Sales Expense Sales Expense Gain (Loss) Reclassified from AOCI, Net of Tax Foreign currency forward contracts $ (422) $ — $ (555) $ — Interest rate swap agreements — (7,750) — (2,897) Gain (Loss) on Derivatives Not Designated as Hedging Instruments Amount of loss recognized in income, net of tax Interest rate swap agreements — 62 — (275) Total gain (loss) $ (422) $ (7,688) $ (555) $ (3,172)

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	Apr. 30, 2021
Inventory Disclosure [Abstract]
Schedule of major classifications of inventories	Major classifications of inventories are as follows: April 30, 2021 July 31, 2020 Finished goods – RV $ 129,030 $ 152,297 Finished goods – other 59,369 44,779 Work in process 370,402 128,181 Raw materials 534,965 302,813 Chassis 445,697 135,194 Subtotal 1,539,463 763,264 Excess of FIFO costs over LIFO costs (55,409) (46,959) Total inventories, net $ 1,484,054 $ 716,305

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
Property, Plant and Equipment (Tables)	Apr. 30, 2021
Property, Plant and Equipment [Abstract]
Property, plant and equipment	Property, plant and equipment consists of the following: April 30, 2021 July 31, 2020 Land $ 141,166 $ 136,200 Buildings and improvements 815,802 760,986 Machinery and equipment 509,924 438,985 Rental vehicles 64,992 83,534 Lease right-of-use assets – operating 38,545 33,609 Lease right-of-use assets – finance 7,196 3,672 Total cost 1,577,625 1,456,986 Less accumulated depreciation (419,245) (349,337) Property, plant and equipment, net $ 1,158,380 $ 1,107,649

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	9 Months Ended
Intangible Assets and Goodwill (Tables)	Apr. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Components of amortizable intangible assets	The components of amortizable intangible assets are as follows: April 30, 2021 July 31, 2020 Accumulated Accumulated Cost Amortization Cost Amortization Dealer networks/customer relationships $ 867,483 $ 309,523 $ 766,198 $ 252,320 Trademarks 313,309 59,037 275,775 47,743 Design technology and other intangibles 219,012 57,537 213,468 40,654 Backlog 4,800 3,471 — — Non-compete agreements 1,400 175 — — Total amortizable intangible assets $ 1,406,004 $ 429,743 $ 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 $ 30,178 For the fiscal year ending July 31, 2022 125,339 For the fiscal year ending July 31, 2023 106,759 For the fiscal year ending July 31, 2024 96,863 For the fiscal year ending July 31, 2025 88,655 For the fiscal year ending July 31, 2026 and thereafter 528,467 $ 976,261
Schedule of goodwill	Changes in the carrying amount of goodwill by reportable segment for the nine months ended April 30, 2021 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 18,845 43,491 — 17,882 80,218 Measurement period adjustments (7,656) 8,225 — — 569 Foreign currency translation — — 20,500 — 20,500 Net balance as of April 30, 2021 $ 344,975 $ 51,716 $ 1,058,429 $ 122,708 $ 1,577,828 Changes in the carrying amount of goodwill by reportable segment for the nine months ended April 30, 2020 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: Goodwill acquired — — — 62,366 62,366 Measurement period adjustments — — 1,282 — 1,282 Foreign currency translation — — (24,243) — (24,243) Impairment charge (1,036) — — — (1,036) Net balance as of April 30, 2020 $ 333,786 $ — $ 957,378 $ 105,237 $ 1,396,401

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Apr. 30, 2021
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 April 30, 2021 and July 31, 2020 are as follows: Input Level April 30, 2021 July 31, 2020 Cash equivalents Level 1 $ 211 $ 227,154 Deferred compensation plan mutual fund assets Level 1 $ 46,931 $ 47,327 Deferred compensation plan liabilities Level 1 $ 77,289 $ 61,290 Foreign currency forward contract asset Level 2 $ 494 $ — Interest rate swap liabilities Level 2 $ 15,782 $ 26,664

Product Warranties (Tables)

Product Warranties (Tables)	9 Months Ended
Product Warranties (Tables)	Apr. 30, 2021
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 April 30, Nine Months Ended April 30, 2021 2020 2021 2020 Beginning balance $ 251,009 $ 282,065 $ 252,869 $ 289,679 Provision 84,805 35,780 188,546 157,453 Payments (73,767) (59,956) (191,706) (189,254) Acquisition — — 11,032 — Foreign currency translation (82) (12) 1,224 (1) Ending balance $ 261,965 $ 257,877 $ 261,965 $ 257,877

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
Long-Term Debt (Tables)	Apr. 30, 2021
Debt Disclosure [Abstract]
Schedule of long-term debt instruments	The components of long-term debt are as follows: April 30, 2021 July 31, 2020 Term loan $ 1,549,621 $ 1,597,091 Asset-based credit facility 110,000 — Unsecured notes 30,205 29,620 Other debt 76,358 84,500 Gross long-term debt 1,766,184 1,711,211 Debt issuance costs, net of amortization (35,498) (44,563) Total long-term debt, net of debt issuance costs 1,730,686 1,666,648 Less: current portion of long-term debt (12,559) (13,817) Total long-term debt, net, less current portion $ 1,718,127 $ 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 $ 4,202 For the fiscal year ending July 31, 2022 12,264 For the fiscal year ending July 31, 2023 12,390 For the fiscal year ending July 31, 2024 122,519 For the fiscal year ending July 31, 2025 36,557 For the fiscal year ending July 31, 2026 and thereafter 1,578,252 $ 1,766,184

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Apr. 30, 2021
Leases [Abstract]
Components of lease costs	The components of lease costs for the three and nine-month periods ended April 30, 2021 and April 30, 2020 were as follows: Three Months Ended April 30, Nine Months Ended April 30, 2021 2020 2021 2020 Operating lease cost $ 5,075 $ 2,920 $ 12,833 $ 9,063 Finance lease cost Amortization of right-of-use assets 164 136 475 408 Interest on lease liabilities 134 131 391 402 Total lease cost $ 5,373 $ 3,187 $ 13,699 $ 9,873 Other information related to leases was as follows: Nine Months Ended April 30, Supplemental Cash Flows Information 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 12,767 $ 8,992 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 9,842 $ 3,777 Finance leases $ 4,000 $ — Supplemental Balance Sheet Information April 30, 2021 July 31, 2020 Operating leases: Operating lease right-of-use assets $ 38,545 $ 33,609 Operating lease liabilities: Other current liabilities $ 7,672 $ 5,343 Other long-term liabilities 31,126 28,456 Total operating lease liabilities $ 38,798 $ 33,799 Finance leases: Finance lease right-of-use assets $ 7,196 $ 3,672 Finance lease liabilities Other current liabilities $ 1,014 $ 505 Other long-term liabilities 5,018 4,743 Total finance lease liabilities $ 6,032 $ 5,248 April 30, 2021 July 31, 2020 Weighted-average remaining lease term: Operating leases 11.8 years 13.6 years Finance leases 5.3 years 6.8 years Weighted-average discount rate: Operating leases 3.2 % 3.4 % Finance leases 8.9 % 9.7 %
Operating lease liability maturities	Future minimum rental payments required under operating and finance leases as of April 30, 2021 were as follows: Operating Leases Financing Leases For the remainder of the fiscal year ending July 31, 2021 $ 3,517 $ 387 For the fiscal year ending July 31, 2022 12,025 1,555 For the fiscal year ending July 31, 2023 9,187 1,578 For the fiscal year ending July 31, 2024 6,449 1,059 For the fiscal year ending July 31, 2025 4,426 1,083 For the fiscal year ending July 31, 2026 and thereafter 19,616 2,062 Total future lease payments 55,220 7,724 Less: amount representing interest (16,422) (1,692) Total reported lease liability $ 38,798 $ 6,032
Finance lease liability maturities	Future minimum rental payments required under operating and finance leases as of April 30, 2021 were as follows: Operating Leases Financing Leases For the remainder of the fiscal year ending July 31, 2021 $ 3,517 $ 387 For the fiscal year ending July 31, 2022 12,025 1,555 For the fiscal year ending July 31, 2023 9,187 1,578 For the fiscal year ending July 31, 2024 6,449 1,059 For the fiscal year ending July 31, 2025 4,426 1,083 For the fiscal year ending July 31, 2026 and thereafter 19,616 2,062 Total future lease payments 55,220 7,724 Less: amount representing interest (16,422) (1,692) Total reported lease liability $ 38,798 $ 6,032

Revenue (Tables)

Revenue (Tables)	9 Months Ended
Revenue (Tables)	Apr. 30, 2021
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 April 30, Nine Months Ended April 30, NET SALES: 2021 2020 2021 2020 Recreational vehicles North American Towables Travel Trailers $ 1,060,058 $ 455,434 $ 2,729,317 $ 1,748,220 Fifth Wheels 666,044 317,957 1,762,010 1,209,966 Total North American Towables 1,726,102 773,391 4,491,327 2,958,186 North American Motorized Class A 323,547 96,849 704,230 384,055 Class C 342,425 144,826 912,124 561,424 Class B 109,421 22,362 229,889 78,127 Total North American Motorized 775,393 264,037 1,846,243 1,023,606 Total North America 2,501,495 1,037,428 6,337,570 3,981,792 European Motorcaravan 489,702 380,023 1,227,182 1,044,178 Campervan 236,988 104,486 529,500 280,006 Caravan 84,074 65,790 210,923 196,731 Other RV-related 83,476 65,044 262,586 224,550 Total European 894,240 615,343 2,230,191 1,745,465 Total recreational vehicles 3,395,735 1,652,771 8,567,761 5,727,257 Other, primarily aluminum extruded components 106,960 45,632 262,381 176,943 Intercompany eliminations (43,431) (16,668) (105,730) (60,547) Total $ 3,459,264 $ 1,681,735 $ 8,724,412 $ 5,843,653

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Apr. 30, 2021
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 April 30, 2021 2020 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 $ 86,797 $ (13,140) $ (696) $ 72,961 $ (57,987) $ (13,418) $ (1,048) $ (72,453) OCI before reclassifications (7,449) 193 — (7,256) (25,245) (12,059) — (37,304) Income taxes associated with OCI before reclassifications — (46) — (46) — 2,792 — 2,792 Amounts reclassified from AOCI — 3,703 — 3,703 — 1,979 — 1,979 Income taxes associated with amounts reclassified from AOCI — (921) — (921) — (475) — (475) AOCI, net of tax 79,348 (10,211) (696) 68,441 (83,232) (21,181) (1,048) (105,461) Less: AOCI attributable to noncontrolling interest (770) — — (770) (1,237) — — (1,237) AOCI, net of tax, attributable to THOR Industries, Inc. $ 80,118 $ (10,211) $ (696) $ 69,211 $ (81,995) $ (21,181) $ (1,048) $ (104,224) Nine Months Ended April 30, 2021 2020 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 33,691 573 — 34,264 (36,154) (19,885) — (56,039) Income taxes associated with OCI before reclassifications — (133) — (133) — 4,724 — 4,724 Amounts reclassified from AOCI — 10,752 — 10,752 — 4,561 — 4,561 Income taxes associated with amounts reclassified from AOCI — (2,580) — (2,580) — (1,109) — (1,109) AOCI, net of tax 79,348 (10,211) (696) 68,441 (83,232) (21,181) (1,048) (105,461) Less: AOCI attributable to noncontrolling interest (770) — — (770) (1,237) — — (1,237) AOCI, net of tax, attributable to THOR Industries, Inc. $ 80,118 $ (10,211) $ (696) $ 69,211 $ (81,995) $ (21,181) $ (1,048) $ (104,224)

Acquisitions - Tiffin Group Nar

Acquisitions - Tiffin Group Narrative (Details) - Tiffin Group - USD ($) $ in Thousands	Dec. 18, 2020	Apr. 30, 2021
Business Acquisition [Line Items]
Cash paid to acquire business, gross	$ 300,000
Net sales		$ 253,636
Net loss before income taxes		8,847
Business combination, provisional adjustment, inventory adjustment		4,272
Business combination, provisional information, intangible asset adjustment		$ 4,248
Acquired finite-lived intangible assets, weighted average useful life	18 years 9 months 18 days
Asset-based credit facility
Business Acquisition [Line Items]
Amount of cash borrowed from long term line of credit to fund business acquisition	$ 165,000
Trademarks
Business Acquisition [Line Items]
Finite lived intangible assets, useful life	20 years
Minimum \| Dealer network
Business Acquisition [Line Items]
Finite lived intangible assets, useful life	18 years
Minimum \| Backlog
Business Acquisition [Line Items]
Finite lived intangible assets, useful life	5 months
Maximum \| Dealer network
Business Acquisition [Line Items]
Finite lived intangible assets, useful life	20 years
Maximum \| Backlog
Business Acquisition [Line Items]
Finite lived intangible assets, useful life	7 months

Acquisitions - Schedule of Asse

Acquisitions - Schedule of Assets Acquired and Liabilities Assumed from Tiffin Group (Details) - USD ($) $ in Thousands	Dec. 18, 2020	Apr. 30, 2021	Apr. 30, 2020	Jul. 31, 2020	Jul. 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 1,577,828	$ 1,396,401	$ 1,476,541	$ 1,358,032
Total cash consideration for acquisition, less cash acquired		$ 310,938	$ 0
Tiffin Group
Business Acquisition [Line Items]
Cash	$ 13,074
Inventory	116,441
Other assets	53,860
Property, plant and equipment	48,262
Goodwill	62,905
Current liabilities	(81,423)
Deferred income tax liabilities	(35,104)
Other liabilities	(7,203)
Total fair value of net assets acquired	301,312
Total cash consideration for acquisition, less cash acquired	288,238
Tiffin Group \| Dealer network
Business Acquisition [Line Items]
Amortizable intangible assets	92,200
Tiffin Group \| Trademarks
Business Acquisition [Line Items]
Amortizable intangible assets	32,100
Tiffin Group \| Non-compete agreements
Business Acquisition [Line Items]
Amortizable intangible assets	1,400
Tiffin Group \| Backlog
Business Acquisition [Line Items]
Amortizable intangible assets	$ 4,800

Acquisitions - Togo Group (Deta

Acquisitions - Togo Group (Details) - Togo Group - USD ($) $ in Thousands	Mar. 23, 2020	Apr. 30, 2020	Apr. 30, 2020
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		$ 2,137	$ 6,884

Acquisitions - Togo Group Sched

Acquisitions - Togo Group Schedule of Net Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Apr. 30, 2021	Jul. 31, 2020	Apr. 30, 2020	Mar. 23, 2020	Jul. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 1,577,828	$ 1,476,541	$ 1,396,401		$ 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

Acquisitions - Pro Forma Inform

Acquisitions - Pro Forma Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Business Combinations [Abstract]
Net sales	$ 3,459,264	$ 1,826,765	$ 8,988,314	$ 6,403,792
Net income	$ 183,104	$ 20,966	$ 436,817	$ 103,623
Basic earnings per common share (in dollars per share)	$ 3.31	$ 0.38	$ 7.90	$ 1.88
Diluted earnings per common share (in dollars per share)	$ 3.29	$ 0.38	$ 7.85	$ 1.87

Business Segments - Additional

Business Segments - Additional Information (Details)	9 Months Ended
Business Segments - Additional Information (Details)	Apr. 30, 2021segment
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		9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020	Jul. 31, 2020
Segment Reporting Information [Line Items]
Net sales	$ 3,459,264	$ 1,681,735	$ 8,724,412	$ 5,843,653
Income (loss) from continuing operations before income taxes	232,679	21,229	542,957	124,726
Total assets	6,713,967		6,713,967		$ 5,771,460
Depreciation and amortization expense, total	58,689	45,459	169,643	144,611
Capital acquisitions	33,140	23,870	81,201	75,027
Recreational vehicles
Segment Reporting Information [Line Items]
Net sales	3,395,735	1,652,771
Operating segments \| Recreational vehicles
Segment Reporting Information [Line Items]
Net sales	3,395,735	1,652,771	8,567,761	5,727,257
Income (loss) from continuing operations before income taxes	266,466	59,934	645,223	236,039
Total assets	6,157,426		6,157,426		5,112,209
Depreciation and amortization expense, total	55,163	42,345	159,323	135,558
Capital acquisitions	31,355	23,232	76,367	72,533
Operating segments \| Recreational vehicles \| North America
Segment Reporting Information [Line Items]
Net sales	2,501,495	1,037,428	6,337,570	3,981,792
Income (loss) from continuing operations before income taxes	222,473	60,176	596,520	254,615
Total assets	2,951,205		2,951,205		2,010,138
Depreciation and amortization expense, total	23,912	20,296	65,141	60,006
Capital acquisitions	16,466	7,352	38,262	34,476
Operating segments \| Recreational vehicles \| North America \| North American Towables
Segment Reporting Information [Line Items]
Net sales	1,726,102	773,391	4,491,327	2,958,186
Income (loss) from continuing operations before income taxes	167,693	49,261	456,752	207,009
Total assets	1,802,162		1,802,162		1,529,913
Depreciation and amortization expense, total	16,904	16,696	49,029	49,398
Capital acquisitions	9,750	5,192	26,071	23,888
Operating segments \| Recreational vehicles \| North America \| North American Motorized
Segment Reporting Information [Line Items]
Net sales	775,393	264,037	1,846,243	1,023,606
Income (loss) from continuing operations before income taxes	54,780	10,915	139,768	47,606
Total assets	1,149,043		1,149,043		480,225
Depreciation and amortization expense, total	7,008	3,600	16,112	10,608
Capital acquisitions	6,716	2,160	12,191	10,588
Operating segments \| Recreational vehicles \| Europe
Segment Reporting Information [Line Items]
Net sales	894,240	615,343	2,230,191	1,745,465
Income (loss) from continuing operations before income taxes	43,993	(242)	48,703	(18,576)
Total assets	3,206,221		3,206,221		3,102,071
Depreciation and amortization expense, total	31,251	22,049	94,182	75,552
Capital acquisitions	14,889	15,880	38,105	38,057
Other, net
Segment Reporting Information [Line Items]
Net sales	106,960	45,632	262,381	176,943
Income (loss) from continuing operations before income taxes	16,667	3,996	37,801	24,356
Total assets	258,531		258,531		212,378
Depreciation and amortization expense, total	3,108	2,676	9,058	7,710
Capital acquisitions	1,427	517	4,087	1,445
Corporate
Segment Reporting Information [Line Items]
Income (loss) from continuing operations before income taxes	(50,454)	(42,701)	(140,067)	(135,669)
Total assets	298,010		298,010		$ 446,873
Depreciation and amortization expense, total	418	438	1,262	1,343
Capital acquisitions	358	121	747	1,049
Intercompany eliminations
Segment Reporting Information [Line Items]
Net sales	$ (43,431)	$ (16,668)	$ (105,730)	$ (60,547)

Earnings Per Common Share (Deta

Earnings Per Common Share (Detail) - shares	3 Months Ended		9 Months Ended
Earnings Per Common Share (Detail) - shares	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Earnings Per Share [Abstract]
Weighted-average common shares outstanding for basic earnings per share (in shares)	55,366,241	55,198,756	55,323,080	55,163,943
Unvested restricted stock units (in shares)	357,137	194,226	292,027	173,722
Weighted-average common shares outstanding assuming dilution (in shares)	55,723,378	55,392,982	55,615,107	55,337,665
Antidilutive stock options, unvested restricted stock units outstanding (in shares)	86,946	140,481	81,557	189,090

Derivatives and Hedging - Fair

Derivatives and Hedging - Fair Value and Associated Notional Amounts (Details) - Cash Flow Hedges - USD ($)	Apr. 30, 2021	Jul. 31, 2020
Derivative [Line Items]
Notional	$ 607,135,000	$ 673,400,000
Fair value in other current liabilities	14,008,000	24,840,000
Derivative Asset, Fair Value, Gross Asset	494,000
Foreign exchange forward
Derivative [Line Items]
Notional	75,110,000	0
Fair value in other current liabilities	0	0
Derivative Asset, Fair Value, Gross Asset	494,000
Interest rate swap agreements
Derivative [Line Items]
Notional	532,025,000	673,400,000
Fair value in other current liabilities	14,008,000	$ 24,840,000
Derivative Asset, Fair Value, Gross Asset	$ 0

Derivatives and Hedging - Narra

Derivatives and Hedging - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
Derivatives and Hedging - Narrative (Details) - USD ($)	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020	Jul. 31, 2020
Derivative [Line Items]
Foreign currency transaction gain (loss)	$ 1,984,000	$ 6,293,000	$ (8,969,000)	$ 9,136,000
Amount reclassified	0	$ 0	0	$ 0
Not designated as hedging instrument
Derivative [Line Items]
Notional amount	33,634,000		33,634,000		$ 34,862,000
Derivative liability	$ 1,774,000		$ 1,774,000		$ 1,824,000

Derivatives and Hedging - Finan

Derivatives and Hedging - Financial Statement Impact of Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Not designated as hedging instrument
Gain (Loss) recognized in Other Comprehensive Income, net of tax
Total gain (loss)	$ 2,929	$ (7,763)	$ 8,612	$ (11,709)
Foreign currency forward contracts \| Not designated as hedging instrument
Gain (Loss) recognized in Other Comprehensive Income, net of tax
Total gain (loss)	422	856	356	(159)
Interest rate swap agreements \| Not designated as hedging instrument
Gain (Loss) recognized in Other Comprehensive Income, net of tax
Total gain (loss)	2,507	(8,619)	8,256	(11,550)
Sales
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Total gain (loss)	(429)	(121)	(422)	(555)
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]
Gain (Loss) Reclassified from AOCI, Net of Tax	(429)	(121)	(422)	(555)
Sales \| Interest rate swap agreements
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	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]
Gain (Loss) Reclassified from AOCI, Net of Tax	0	0	0	0
Interest expense
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Total gain (loss)	(2,245)	(1,490)	(7,688)	(3,172)
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]
Gain (Loss) Reclassified from AOCI, Net of Tax	0	0	0	0
Interest expense \| Interest rate swap agreements
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Amount of loss recognized in income, net of tax	108	(107)	62	(275)
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]
Gain (Loss) Reclassified from AOCI, Net of Tax	$ (2,353)	$ (1,383)	$ (7,750)	$ (2,897)

Inventories - Schedule of Major

Inventories - Schedule of Major Classifications of Inventories (Detail) - USD ($) $ in Thousands	Apr. 30, 2021	Jul. 31, 2020
Inventory [Line Items]
Work in process	$ 370,402	$ 128,181
Raw materials	534,965	302,813
Chassis	445,697	135,194
Subtotal	1,539,463	763,264
Excess of FIFO costs over LIFO costs	(55,409)	(46,959)
Total inventories, net	1,484,054	716,305
Recreational vehicles
Inventory [Line Items]
Finished products	129,030	152,297
Other
Inventory [Line Items]
Finished products	$ 59,369	$ 44,779

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($) $ in Thousands	Apr. 30, 2021	Jul. 31, 2020
Inventory Disclosure [Abstract]
Inventories	$ 1,539,463	$ 763,264
Subsidiaries valued inventory in last-in, first-out method	527,670	251,099
Subsidiaries valued inventory in first-in, first-out method	$ 1,011,793	$ 512,165

Property, Plant and Equipment_2

Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Apr. 30, 2021	Jul. 31, 2020
Property, Plant, Equipment, and ROU Assets [Line Items]
Lease right-of-use assets – operating	$ 38,545	$ 33,609
Lease right-of-use assets – finance	7,196	3,672
Total cost	1,577,625	1,456,986
Less accumulated depreciation	(419,245)	(349,337)
Property, plant and equipment, net	1,158,380	1,107,649
Land
Property, Plant, Equipment, and ROU Assets [Line Items]
Property, plant and equipment	141,166	136,200
Buildings and improvements
Property, Plant, Equipment, and ROU Assets [Line Items]
Property, plant and equipment	815,802	760,986
Machinery and equipment
Property, Plant, Equipment, and ROU Assets [Line Items]
Property, plant and equipment	509,924	438,985
Rental vehicles
Property, Plant, Equipment, and ROU Assets [Line Items]
Property, plant and equipment	$ 64,992	$ 83,534

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Components of Amortizable Intangible Assets (Detail) - USD ($) $ in Thousands	Apr. 30, 2021	Jul. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Cost	$ 1,406,004	$ 1,255,441
Accumulated amortization	429,743	340,717
Dealer networks/customer relationships
Finite-Lived Intangible Assets [Line Items]
Cost	867,483	766,198
Accumulated amortization	309,523	252,320
Trademarks
Finite-Lived Intangible Assets [Line Items]
Cost	313,309	275,775
Accumulated amortization	59,037	47,743
Design technology and other intangibles
Finite-Lived Intangible Assets [Line Items]
Cost	219,012	213,468
Accumulated amortization	57,537	40,654
Backlog
Finite-Lived Intangible Assets [Line Items]
Cost	4,800	0
Accumulated amortization	3,471	0
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Cost	1,400	0
Accumulated amortization	$ 175	$ 0

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Estimated Amortization Expense (Detail) - USD ($) $ in Thousands	Apr. 30, 2021	Jul. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
For the remainder of the fiscal year ending July 31, 2021	$ 30,178
For the fiscal year ending July 31, 2022	125,339
For the fiscal year ending July 31, 2023	106,759
For the fiscal year ending July 31, 2024	96,863
For the fiscal year ending July 31, 2025	88,655
For the fiscal year ending July 31, 2026 and thereafter	528,467
Estimated annual amortization expense, total	$ 976,261	$ 914,724

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Jul. 31, 2020	Jul. 31, 2019
Goodwill [Line Items]
Goodwill	$ 1,577,828	$ 1,396,401	$ 1,476,541	$ 1,358,032
Goodwill acquired	80,218	62,366
Measurement period adjustments	569	1,282
Foreign currency translation	20,500	(24,243)
Impairment charge		(1,036)
Other
Goodwill [Line Items]
Goodwill	122,708	105,237	104,826	42,871
Goodwill acquired	17,882	62,366
Measurement period adjustments	0	0
Foreign currency translation	0	0
Impairment charge		0
Europe \| Recreational vehicles
Goodwill [Line Items]
Goodwill	1,058,429	957,378	1,037,929	980,339
Goodwill acquired	0
Measurement period adjustments	0	1,282
Foreign currency translation	20,500	(24,243)
Impairment charge		0
North American Towables \| North America \| Recreational vehicles
Goodwill [Line Items]
Goodwill	344,975	333,786	333,786	334,822
Goodwill acquired	18,845	0
Measurement period adjustments	(7,656)	0
Foreign currency translation	0	0
Impairment charge		(1,036)
North American Motorized \| North America \| Recreational vehicles
Goodwill [Line Items]
Goodwill	51,716	0	$ 0	$ 0
Goodwill acquired	43,491	0
Measurement period adjustments	8,225	0
Foreign currency translation	$ 0	0
Impairment charge		$ 0

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Goodwill [Line Items]
Impairment charges	$ 0	$ 0	$ 0	$ 10,057
Goodwill impairment loss				1,036
North American Towables \| North America \| Recreational vehicles
Goodwill [Line Items]
Goodwill impairment loss				$ 1,036

Concentration of Risk (Detail)

Concentration of Risk (Detail) - Customer concentration risk - Freedom Roads, LLC	3 Months Ended		9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Sales revenue
Concentration Risk [Line Items]
Concentration risk percentage	13.00%	15.00%	13.00%	15.00%
Accounts receivable
Concentration Risk [Line Items]
Concentration risk percentage			15.00%	18.00%

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value, Assets Measured on Recurring Basis (Detail) - USD ($) $ in Thousands	Apr. 30, 2021	Jul. 31, 2020
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 211	$ 227,154
Deferred compensation plan mutual fund assets	46,931	47,327
Deferred compensation plan liabilities	77,289	61,290
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contract asset	494	0
Interest rate swap liabilities	$ 15,782	$ 26,664

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) £ in Thousands, $ in Thousands	Apr. 30, 2021USD ($)	Apr. 30, 2021GBP (£)	Jul. 31, 2020USD ($)
Not designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notional amount	$ 33,634		$ 34,862
Foreign exchange forward
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notional amount	75,110	£ 54,000
Interest rate swap \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notional amount	532,025
Interest rate swap \| Not designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notional amount	$ 33,634

Product Warranties - Additional

Product Warranties - Additional Information (Detail)	9 Months Ended
Product Warranties - Additional Information (Detail)	Apr. 30, 2021
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		9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Product Warranty
Beginning balance	$ 251,009	$ 282,065	$ 252,869	$ 289,679
Provision	84,805	35,780	188,546	157,453
Payments	(73,767)	(59,956)	(191,706)	(189,254)
Acquisition	0	0	11,032	0
Foreign currency translation	(82)	(12)	1,224	(1)
Ending balance	$ 261,965	$ 257,877	$ 261,965	$ 257,877

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-term Debt (Details) € in Thousands, $ in Thousands	Apr. 30, 2021USD ($)	Apr. 30, 2021EUR (€)	Jul. 31, 2020USD ($)
Line of Credit Facility [Line Items]
Term loan	$ 1,549,621		$ 1,597,091
Unsecured notes	30,205	€ 25,000	29,620
Other debt	76,358		84,500
Gross long-term debt	1,766,184		1,711,211
Debt issuance costs, net of amortization	(35,498)		(44,563)
Total long-term debt, net of debt issuance costs	1,730,686		1,666,648
Less: current portion of long-term debt	(12,559)		(13,817)
Total long-term debt, net, less current portion	1,718,127		1,652,831
Term loan
Line of Credit Facility [Line Items]
Term loan	1,549,621		1,597,091
Asset-based credit facility
Line of Credit Facility [Line Items]
Term loan	$ 110,000		$ 0

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) € in Thousands, $ in Thousands	Feb. 01, 2019USD ($)	Apr. 30, 2021USD ($)	Apr. 30, 2020USD ($)	Apr. 30, 2021USD ($)	Apr. 30, 2020USD ($)	Apr. 30, 2021EUR (€)	Mar. 25, 2021	Jul. 31, 2020USD ($)
Line of Credit Facility [Line Items]
Unsecured debt		$ 30,205		$ 30,205		€ 25,000		$ 29,620
Interest expense		18,361	$ 22,825	59,612	$ 71,037
Debt extinguishment charge		4,688
Fees to secure the facility, amortized amount		7,365	$ 2,679	12,825	$ 8,050
Accelerated amortization of fees to secure facility		4,688
Unamortized debt issuance expense		7,705		7,705				9,807
Term loan		1,549,621		$ 1,549,621				1,597,091
Term loan
Line of Credit Facility [Line Items]
Debt instrument, term	7 years
Loan fee amortization period				7 years
Debt, fair value		1,551,141		$ 1,551,141				1,565,866
Term loan		1,549,621		1,549,621				1,597,091
Term loan \| US tranche
Line of Credit Facility [Line Items]
Line of credit, outstanding amount		$ 532,025		$ 532,025				$ 673,400
Long-term debt, percentage bearing fixed interest		5.466%		5.466%		5.466%		6.216%
Term loan \| US tranche \| LIBOR
Line of Credit Facility [Line Items]
Line of credit, outstanding amount		$ 941,900		$ 941,900				$ 941,900
Stated interest rate		3.125%		3.125%		3.125%		3.938%
Debt instrument, reduction of interest rate spread							0.75%
Term loan \| US tranche \| 1-month LIBOR
Line of Credit Facility [Line Items]
Stated interest rate		2.466%		2.466%		2.466%		2.466%
Term loan \| Euro tranche
Line of Credit Facility [Line Items]
Line of credit, outstanding amount		$ 607,721		$ 607,721				$ 655,191
Effective interest rate		3.00%		3.00%		3.00%		4.00%
Term loan \| Euro tranche \| LIBOR
Line of Credit Facility [Line Items]
Debt instrument, reduction of interest rate spread							1.00%
Unsecured series one debt
Line of Credit Facility [Line Items]
Stated interest rate		1.945%		1.945%		1.945%
Unsecured debt		$ 24,164		$ 24,164		€ 20,000
Unsecured series two debt
Line of Credit Facility [Line Items]
Stated interest rate		2.534%		2.534%		2.534%
Unsecured debt		$ 6,041		$ 6,041		€ 5,000
Other long term debt \| Minimum
Line of Credit Facility [Line Items]
Stated interest rate		1.40%		1.40%		1.40%
Other long term debt \| Maximum
Line of Credit Facility [Line Items]
Stated interest rate		3.43%		3.43%		3.43%
Asset-based credit facility
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	$ 750,000
Line of credit, outstanding amount		$ 110,000		$ 110,000
Effective interest rate		1.375%		1.375%		1.375%
Line of credit, unused capacity commitment fee percentage				0.25%
Accounts receivable and inventory, net of amounts drawn		$ 610,000		$ 610,000
Loan fee amortization period				5 years
Term loan		$ 110,000		$ 110,000				$ 0
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	Apr. 30, 2021	Jul. 31, 2020
Debt Disclosure [Abstract]
For the remainder of the fiscal year ending July 31, 2021	$ 4,202
For the fiscal year ending July 31, 2022	12,264
For the fiscal year ending July 31, 2023	12,390
For the fiscal year ending July 31, 2024	122,519
For the fiscal year ending July 31, 2025	36,557
For the fiscal year ending July 31, 2026 and thereafter	1,578,252
Gross long-term debt	$ 1,766,184	$ 1,711,211

Provision for Income Taxes (Det

Provision for Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	21.50%	(7.30%)	20.90%	18.50%
Expected decrease in unrecognized tax benefits due to resolution of uncertain tax positions	$ 7,900		$ 7,900
Accrued interest	$ 2,000		$ 2,000

Contingent Liabilities, Commi_2

Contingent Liabilities, Commitments and Legal Matters (Detail) - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2021	Jul. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Standby repurchase obligations amount	$ 2,149,930	$ 1,876,922
Term of commitments	18 months
Repurchase and guarantee reserve balances	$ 7,302	$ 7,747

Leases - Components of Lease Co

Leases - Components of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Leases [Abstract]
Operating lease cost	$ 5,075	$ 2,920	$ 12,833	$ 9,063
Amortization of right-of-use assets	164	136	475	408
Interest on lease liabilities	134	131	391	402
Total lease cost	$ 5,373	$ 3,187	$ 13,699	$ 9,873

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Leases [Abstract]
Operating cash flows from operating leases	$ 12,767	$ 8,992
Operating leases	9,842	3,777
Finance leases	$ 4,000	$ 0

Leases - Assets and Liabilities

Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands	Apr. 30, 2021	Jul. 31, 2020
Leases [Abstract]
Operating lease right-of-use assets	$ 38,545	$ 33,609
Operating lease liabilities:
Other current liabilities	7,672	5,343
Other long-term liabilities	31,126	28,456
Total operating lease liabilities	38,798	33,799
Finance lease right-of-use assets	7,196	3,672
Finance lease liabilities
Other current liabilities	1,014	505
Other long-term liabilities	5,018	4,743
Total finance lease liabilities	$ 6,032	$ 5,248
Weighted-aver remaining lease term - operating leases	11 years 9 months 18 days	13 years 7 months 6 days
Weighted-aver remaining lease term - finance leases	5 years 3 months 18 days	6 years 9 months 18 days
Weighted-average discount rate - operating leases	3.20%	3.40%
Weighted-average discount rate - finance leases	8.90%	9.70%
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other	Other
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other	Other
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, plant and equipment, net	Property, plant and equipment, net
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, plant and equipment, net	Property, plant and equipment, net

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Company's Operating and Finance Leases (Details) - USD ($) $ in Thousands	Apr. 30, 2021	Jul. 31, 2020
Operating Leases
For the remainder of the fiscal year ending July 31, 2021	$ 3,517
For the fiscal year ending July 31, 2022	12,025
For the fiscal year ending July 31, 2023	9,187
For the fiscal year ending July 31, 2024	6,449
For the fiscal year ending July 31, 2025	4,426
For the fiscal year ending July 31, 2026 and thereafter	19,616
Total future lease payments	55,220
Less: amount representing interest	(16,422)
Total operating lease liabilities	38,798	$ 33,799
Financing Leases
For the remainder of the fiscal year ending July 31, 2021	387
For the fiscal year ending July 31, 2022	1,555
For the fiscal year ending July 31, 2023	1,578
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	2,062
Total future lease payments	7,724
Less: amount representing interest	(1,692)
Total reported lease liability	$ 6,032	$ 5,248

Stockholders' Equity (Detail)

Stockholders' Equity (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Stockholders' Equity (Detail) - USD ($) $ in Thousands	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Equity [Abstract]
Stock-based compensation	$ 8,366	$ 4,350	$ 21,424	$ 14,425

Revenue (Detail)

Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Revenue (Detail) - USD ($) $ in Thousands	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 3,459,264	$ 1,681,735	$ 8,724,412	$ 5,843,653
Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	3,395,735	1,652,771
Operating segments \| Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	3,395,735	1,652,771	8,567,761	5,727,257
Operating segments \| North America \| Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	2,501,495	1,037,428	6,337,570	3,981,792
Operating segments \| Europe \| Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	894,240	615,343	2,230,191	1,745,465
Operating segments \| Travel Trailers \| North America \| Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	1,060,058	455,434	2,729,317	1,748,220
Operating segments \| Fifth Wheels \| North America \| Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	666,044	317,957	1,762,010	1,209,966
Operating segments \| North American Towables \| North America \| Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	1,726,102	773,391	4,491,327	2,958,186
Operating segments \| Class A \| North America \| Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	323,547	96,849	704,230	384,055
Operating segments \| Class C \| North America \| Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	342,425	144,826	912,124	561,424
Operating segments \| Class B \| North America \| Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	109,421	22,362	229,889	78,127
Operating segments \| North American Motorized \| North America \| Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	775,393	264,037	1,846,243	1,023,606
Operating segments \| Motorcaravan \| Europe \| Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	489,702	380,023	1,227,182	1,044,178
Operating segments \| Campervan \| Europe \| Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	236,988	104,486	529,500	280,006
Operating segments \| Caravan \| Europe \| Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	84,074	65,790	210,923	196,731
Operating segments \| Other RV-related \| Europe \| Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	83,476	65,044	262,586	224,550
Corporate and eliminations
Disaggregation of Revenue [Line Items]
Net sales	106,960	45,632	262,381	176,943
Intercompany eliminations
Disaggregation of Revenue [Line Items]
Net sales	$ (43,431)	$ (16,668)	$ (105,730)	$ (60,547)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	$ 2,596,711	$ 2,122,334	$ 2,345,569	$ 2,095,228
Ending balance	2,757,922	2,111,512	2,757,922	2,111,512
Foreign currency translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	86,797	(57,987)	45,657	(47,078)
OCI before reclassifications	(7,449)	(25,245)	33,691	(36,154)
Income taxes associated with OCI before reclassifications	0	0	0	0
Amounts reclassified from AOCI	0	0	0	0
Income taxes associated with amounts reclassified from AOCI	0	0	0	0
Ending balance	79,348	(83,232)	79,348	(83,232)
Unrealized gain (loss) on derivative
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(13,140)	(13,418)	(18,823)	(9,472)
OCI before reclassifications	193	(12,059)	573	(19,885)
Income taxes associated with OCI before reclassifications	(46)	2,792	(133)	4,724
Amounts reclassified from AOCI	3,703	1,979	10,752	4,561
Income taxes associated with amounts reclassified from AOCI	(921)	(475)	(2,580)	(1,109)
Ending balance	(10,211)	(21,181)	(10,211)	(21,181)
Other
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(696)	(1,048)	(696)	(1,048)
OCI before reclassifications	0	0	0	0
Income taxes associated with OCI before reclassifications	0	0	0	0
Amounts reclassified from AOCI	0	0	0	0
Income taxes associated with amounts reclassified from AOCI	0	0	0	0
Ending balance	(696)	(1,048)	(696)	(1,048)
AOCI including portion attributable to noncontrolling interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	72,961	(72,453)	26,138	(57,598)
OCI before reclassifications	(7,256)	(37,304)	34,264	(56,039)
Income taxes associated with OCI before reclassifications	(46)	2,792	(133)	4,724
Amounts reclassified from AOCI	3,703	1,979	10,752	4,561
Income taxes associated with amounts reclassified from AOCI	(921)	(475)	(2,580)	(1,109)
Ending balance	68,441	(105,461)	68,441	(105,461)
Foreign currency translation adjustment, attributable to noncontrolling interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ending balance	(770)	(1,237)	(770)	(1,237)
Unrealized gain (loss) on derivatives, attributable to noncontrolling interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ending balance	0	0	0	0
Other, attributable to noncontrolling interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ending balance	0	0	0	0
AOCI, attributable to noncontrolling interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ending balance	(770)	(1,237)	(770)	(1,237)
Foreign currency translation adjustment, attributable to parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ending balance	80,118	(81,995)	80,118	(81,995)
Unrealized gain (loss) on derivative, attributable to parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ending balance	(10,211)	(21,181)	(10,211)	(21,181)
Other, attributable to parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ending balance	(696)	(1,048)	(696)	(1,048)
AOCI, attributable to parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	73,676	(71,415)	26,993	(57,004)
Ending balance	$ 69,211	$ (104,224)	$ 69,211	$ (104,224)