Thor Industries (THO) 10-K 28 Sep 21 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Sep. 15, 2021	Jan. 31, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jul. 31, 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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 5,607
Entity Common Stock, Shares Outstanding		55,366,241
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Central Index Key	0000730263
Current Fiscal Year End Date	--07-31
Documents Incorporated by Reference	Portions of the Proxy Statement for the Annual Meeting of Stockholders to be held on December 17, 2021 are incorporated by reference in Part III of this Annual Report on Form 10-K

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 31, 2021	Jul. 31, 2020
Current assets:
Cash and cash equivalents	$ 445,852	$ 538,519
Restricted cash	2,854	2,844
Accounts receivable, trade, net	796,489	588,069
Accounts receivable, other, net	151,087	82,880
Factored accounts receivable	2,356	143,278
Inventories, net	1,369,384	716,305
Prepaid income taxes, expenses and other	35,501	30,382
Total current assets	2,803,523	2,102,277
Property, plant and equipment, net	1,185,131	1,107,649
Other assets:
Goodwill	1,563,255	1,476,541
Amortizable intangible assets, net	937,171	914,724
Deferred income tax assets, net	41,216	78,738
Other	123,792	91,531
Total other assets	2,665,434	2,561,534
TOTAL ASSETS	6,654,088	5,771,460
Current liabilities:
Accounts payable	915,045	636,506
Current portion of long-term debt	12,411	13,817
Short-term financial obligations	25,720	35,939
Accrued liabilities:
Compensation and related items	249,761	160,083
Product warranties	267,620	252,869
Income and other taxes	85,789	83,893
Promotions and rebates	128,869	97,378
Product, property and related liabilities	38,590	15,440
Liabilities related to factored receivables	2,356	143,278
Other	68,624	76,078
Total current liabilities	1,794,785	1,515,281
Long-term debt	1,594,821	1,652,831
Deferred income tax liabilities, net	113,598	123,802
Unrecognized tax benefits	15,844	12,765
Other liabilities	186,934	121,212
Total long-term liabilities	1,911,197	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	460,482	436,828
Retained earnings	2,770,401	2,201,330
Accumulated other comprehensive income, net of tax	44,621	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.	2,921,843	2,319,782
Non-controlling interests	26,263	25,787
Total stockholders’ equity	2,948,106	2,345,569
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 6,654,088	$ 5,771,460

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jul. 31, 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 usd 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

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Income Statement [Abstract]
Net sales	$ 12,317,380	$ 8,167,933	$ 7,864,758
Cost of products sold	10,422,407	7,049,726	6,891,664
Gross profit	1,894,973	1,118,207	973,094
Selling, general and administrative expenses	869,916	634,119	536,044
Amortization of intangible assets	117,183	97,234	75,638
Impairment charges	0	10,057	0
Acquisition-related costs	0	0	114,866
Interest income	797	3,116	8,080
Interest expense	94,342	107,322	68,112
Other income (expense), net	30,252	305	(1,848)
Income before income taxes	844,581	272,896	184,666
Income taxes	183,711	51,512	52,201
Net income	660,870	221,384	132,465
Less: net income (loss) attributable to non-controlling interests	998	(1,590)	(810)
Net income attributable to THOR Industries, Inc.	$ 659,872	$ 222,974	$ 133,275
Weighted-average common shares outstanding:
Basic - weighted-average common shares outstanding (in shares)	55,333,959	55,172,694	53,905,667
Diluted - weighted-average common shares outstanding (in shares)	55,687,253	55,397,376	54,026,686
Earnings per common share:
Basic - earnings per common share (in dollars per share)	$ 11.93	$ 4.04	$ 2.47
Diluted - earnings per common share (in dollars per share)	$ 11.85	$ 4.02	$ 2.47
Comprehensive income:
Net income	$ 660,870	$ 221,384	$ 132,465
Other comprehensive income (loss), net of tax
Foreign currency translation gain (loss), net of tax	7,723	92,735	(47,078)
Gain (loss) recognized in Other comprehensive income (loss), net of tax	10,168	(9,351)	(9,472)
Other income (loss), net of tax	(180)	352	(1,048)
Total other comprehensive income (loss), net of tax	17,711	83,736	(57,598)
Total comprehensive income	678,581	305,120	74,867
Comprehensive income (loss) attributable to non-controlling interest	1,081	(1,851)	(1,404)
Comprehensive income attributable to THOR Industries, Inc.	$ 677,500	$ 306,971	$ 76,271

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Stockholders' Equity Attributable to Thor	Stockholders' Equity Attributable to ThorCumulative Effect, Period of Adoption, Adjustment	Non-controlling Interests
Balance (in shares) at Jul. 31, 2018			62,765,824					10,070,459
Balance at beginning of period, net of tax at Jul. 31, 2018	$ 1,937,741	$ (5,450)	$ 6,277	$ 252,204	$ 2,022,988	$ (5,450)	$ 0	$ (343,728)	$ 1,937,741	$ (5,450)	$ 0
Net income (loss)	132,465				133,275				133,275		(810)
Restricted stock unit activity (in shares)			167,591					55,975
Restricted stock unit activity	(3,116)		$ 16	1,286				$ (4,418)	(3,116)
Cash dividends	(84,139)				(84,139)				(84,139)
Stock compensation expense	18,950			18,950					18,950
Other comprehensive income (loss)	(57,598)						(57,004)		(57,004)		(594)
Acquisitions (in shares)			2,256,492
Acquisitions	156,375		$ 226	143,942					144,168		12,207
Balance (in shares) at Jul. 31, 2019			65,189,907					10,126,434
Balance at end of period at Jul. 31, 2019	2,095,228		$ 6,519	416,382	2,066,674		(57,004)	$ (348,146)	2,084,425		10,803
Net income (loss)	221,384				222,974				222,974		(1,590)
Restricted stock unit activity (in shares)			206,624					71,341
Restricted stock unit activity	(3,185)		$ 21	557				$ (3,763)	(3,185)
Cash dividends	(88,318)				(88,318)				(88,318)
Stock compensation expense	19,889			19,889					19,889
Other comprehensive income (loss)	83,736						83,997		83,997		(261)
Acquisitions	16,835										16,835
Balance (in shares) at Jul. 31, 2020			65,396,531					10,197,775
Balance at end of period at Jul. 31, 2020	2,345,569		$ 6,540	436,828	2,201,330		26,993	$ (351,909)	2,319,782		25,787
Net income (loss)	660,870				659,872				659,872		998
Restricted stock unit activity (in shares)			255,039					87,554
Restricted stock unit activity	(15,152)		$ 25	(6,860)				$ (8,317)	(15,152)
Cash dividends	(90,801)				(90,801)				(90,801)
Stock compensation expense	30,514			30,514					30,514
Other comprehensive income (loss)	17,711						17,628		17,628		83
Dividend paid to non-controlling interest	(605)										(605)
Balance (in shares) at Jul. 31, 2021			65,651,570					10,285,329
Balance at end of period at Jul. 31, 2021	$ 2,948,106		$ 6,565	$ 460,482	$ 2,770,401		$ 44,621	$ (360,226)	$ 2,921,843		$ 26,263

Consolidated Statement of Sto_2

Consolidated Statement of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Equity [Abstract]
Cash dividends, per common share (in usd per share)	$ 1.64	$ 1.60	$ 1.56

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Cash flows from operating activities:
Net income	$ 660,870	$ 221,384	$ 132,465
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	113,398	98,933	73,139
Amortization of intangibles	117,183	97,234	75,638
Amortization of debt issuance costs	15,407	10,743	6,189
Impairment charges	0	10,057	0
Foreign currency forward contract loss	0	0	70,777
Deferred income tax benefit	(9,026)	(11,212)	(9,059)
Loss on disposition of property, plant and equipment	1,136	3,990	739
Stock-based compensation expense	30,514	19,889	18,950
Changes in assets and liabilities:
Accounts receivable	(234,693)	(115,232)	136,145
Inventories	(538,756)	133,290	283,311
Prepaid income taxes, expenses and other	(32,717)	18,427	(13,114)
Accounts payable	229,173	60,469	(120,507)
Guarantee liabilities related to former EHG subsidiaries	0	0	(108,843)
Accrued liabilities and other	123,078	(14,059)	(46,612)
Long-term liabilities and other	50,915	7,028	8,801
Net cash provided by operating activities	526,482	540,941	508,019
Cash flows from investing activities:
Purchases of property, plant and equipment	(128,835)	(106,697)	(130,224)
Proceeds from dispositions of property, plant and equipment	1,950	27,677	2,732
Business acquisitions, net of cash acquired	(310,938)	0	(1,658,577)
Foreign currency forward contract payment related to business acquisition	0	0	(70,777)
Equity investment in joint venture	0	0	(6,500)
Other	9,330	(5,229)	(2,157)
Net cash used in investing activities	(428,493)	(84,249)	(1,865,503)
Cash flows from financing activities:
Borrowings on term-loan credit facilities	0	0	2,095,018
Borrowings on revolving asset-based credit facilities	225,676	379,222	100,000
Payments on term-loan credit facilities	(59,700)	(274,963)	(242,919)
Payments on revolving credit facilities	(224,836)	(379,986)	(100,000)
Payments on unsecured notes	0	0	(84,728)
Payments on other debt	(13,950)	(14,493)	(70,319)
Payments of debt issuance costs	0	0	(70,176)
Cash dividends paid	(90,801)	(88,318)	(84,139)
Payments on finance lease obligations	(749)	(442)	(405)
Payments related to vesting of stock-based awards	(8,317)	(3,763)	(4,418)
Other	(15,761)	(10,173)	1,159
Net cash provided by (used in) financing activities	(188,438)	(392,916)	1,539,073
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(2,208)	26,325	(5,576)
Net increase (decrease) in cash and cash equivalents and restricted cash	(92,657)	90,101	176,013
Cash and cash equivalents and restricted cash, beginning of period	541,363	451,262	275,249
Cash and cash equivalents and restricted cash, end of period	448,706	541,363	451,262
Less: restricted cash	2,854	2,844	25,647
Cash and cash equivalents, end of period	445,852	538,519	425,615
Supplemental cash flow information:
Income taxes paid	226,527	56,803	87,813
Interest paid	78,865	101,784	57,189
Non-cash investing and financing transactions:
Capital expenditures in accounts payable	6,304	3,458	4,332
Common stock issued for business acquisition	$ 0	$ 0	$ 144,168

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jul. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT 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 by units sold and revenue. 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 Company’s business activities are primarily comprised of three distinct operations, which include the design, manufacture and sale of North American towable recreational vehicles, North American motorized recreational vehicles and European recreational vehicles, with the European vehicles including both towable and motorized products as well as other RV-related products and services. Accordingly, the Company has presented financial information for these three segments in Note 3 to the Consolidated Financial Statements. Principles of Consolidation – The accompanying Consolidated Financial Statements include the accounts of THOR Industries, Inc. and its subsidiaries. The Company consolidates all majority-owned subsidiaries, and all intercompany balances and transactions are eliminated upon consolidation. The results of any companies acquired during a year are included in the consolidated financial statements for the applicable year from the effective date of the acquisition. Estimates – The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Key estimates include the valuation of acquired assets and liabilities, reserves for inventory, incurred but not reported medical claims, warranty claims, workers’ compensation claims, vehicle repurchases, uncertain tax positions, product and non-product litigation and assumptions made in asset impairment assessments. The Company bases its estimates on historical experience and on various other assumptions believed to be reasonable under the circumstances. The Company believes that such estimates are made using consistent and appropriate methods. Actual results could differ from these estimates. Cash and Cash Equivalents – Interest-bearing deposits and other investments with maturities of three months or less when purchased are considered cash equivalents. At July 31, 2021 and July 31, 2020, cash and cash equivalents of $260,101 and $260,876, respectively, were held by one U.S. financial institution. In addition, at July 31, 2021 and July 31, 2020, the equivalent of $111,215 and $174,077, respectively, was held in Euros at one European financial institution and $27,926 and $49,732, respectively, was held in Euros by a different European financial institution. Derivatives – The Company uses derivative financial instruments to manage its risk related to changes in foreign currency exchange rates and interest rates. The Company does not hold derivative financial instruments of a speculative nature or for trading purposes. The Company records all derivatives on the Consolidated Balance Sheet at fair value using available market information and other observable data. See Note 4 to the Consolidated Financial Statements for further discussion. Fair Value of Financial Instruments – The fair value of long-term debt is discussed in Note 12 to the Consolidated Financial Statements. Inventories – Inventories are determined on the first-in, first-out (“FIFO”) basis, with the remainder on the last-in, first-out (“LIFO”) basis. Inventories are stated at the lower of cost or net realizable value, except for inventories determined based on LIFO, which are stated at the lower of cost or market value. Manufacturing costs included in inventory include materials, labor, freight-in and manufacturing overhead. Unallocated overhead and abnormal costs are expensed as incurred. Depreciation – Property, plant and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the assets as follows: Buildings and improvements – 10 to 39 years Machinery and equipment – 3 to 10 years Rental vehicles – 6 years Depreciation expense is recorded in cost of products sold, except for $22,409, $15,060 and $8,350 in fiscal 2021, 2020 and 2019, respectively, which relates primarily to office buildings and office equipment and is recorded in selling, general and administrative expenses. Business Combinations – The Company accounts for the acquisition of a business using the acquisition method of accounting. Assets acquired and liabilities assumed, including amounts attributed to noncontrolling interests, are recorded at the acquisition date at their fair values. Assigning fair values requires the Company to make significant estimates and assumptions regarding the fair value of identifiable intangible assets, property, plant and equipment, deferred tax asset valuation allowances, and liabilities, such as uncertain tax positions and contingencies. The Company may refine these estimates if necessary over a period not to exceed one year by taking into consideration new information that, if known at the acquisition date, would have affected the fair values ascribed to the assets acquired and liabilities assumed. Goodwill – Goodwill results from the excess of purchase price over the net assets of an acquired business. The Company's reporting units are generally the same as its operating segments, which are identified in Note 3 to the Consolidated Financial Statements. Goodwill is not amortized but is tested for impairment annually as of May 31 of each fiscal year and whenever events or changes in circumstances indicate that an impairment may have occurred. If the carrying amount of a reporting unit exceeds its fair value, an impairment charge equal to that excess is recognized, not to exceed the amount of goodwill allocated to the reporting unit. Long-lived and Intangible Assets – Property, plant and equipment and identifiable intangibles that are amortized are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable from future cash flows. If the carrying value of a long-lived asset is impaired, an impairment charge is recorded for the amount by which the carrying value of the long-lived asset exceeds its fair value. Intangible assets consist of trademarks, dealer networks/customer relationships, design technology, backlog and non-compete agreements. Trademarks are amortized on a straight-line basis over 15 to 25 years. Dealer networks/customer relationships are amortized on an accelerated basis over 12 to 20 years, with amortization beginning after backlog amortization is completed, if applicable. Design technology and non-compete agreements are amortized using the straight-line method over 2 to 15 years. Backlog is amortized using a straight-line basis over the associated fulfillment period, typically nine months or less. Product Warranties – Estimated warranty costs are provided at the time of sale of the related products. See Note 11 to the Consolidated Financial Statements for further information. Factored Accounts Receivable – Factored accounts receivable are receivables from sales to independent dealer customers of our European operations that have been sold to third-party finance companies that provide financing to those dealers. Certain of these sold receivables, which are subject to recourse and in which the Company retains an interest as a secured obligation, do not meet the definition of a true-sale, and were therefore recorded as an asset with an offsetting balance recorded as a secured obligation in Liabilities related to factored receivables on the Consolidated Balance Sheets. During the fourth quarter of fiscal year 2021, the Company entered into revised agreements with certain of the third-party financing companies. These revised terms meet the applicable true-sale criteria under ASC 860 and therefore only those arrangements not meeting the applicable true-sale criteria remain as factored accounts receivable on the Consolidated Balance Sheet. Insurance Reserves – Generally, the Company is self-insured for workers’ compensation, products liability and group medical insurance. Upon the exhaustion of the applicable deductibles or retentions, the Company maintains insurance coverage. Under these plans, liabilities are recognized for claims incurred, including those incurred but not reported. The liability for workers’ compensation claims is determined by the Company with the assistance of a third-party administrator and actuary using various state statutes and historical claims experience. Group medical reserves are estimated using historical claims experience. The Company has established a liability for product liability and personal injury occurrences based on historical data, known cases and actuarial information. Revenue Recognition – Revenue is recognized as performance obligations under the terms of contracts with customers are satisfied. The Company’s recreational vehicle and extruded aluminum contracts have a single performance obligation of providing the promised goods (recreational vehicles and extruded aluminum components), which is satisfied when control of the goods is transferred to the customer. Revenue from the sales of extruded aluminum components is generally recognized upon delivery to the customer’s location. The Company’s European recreational vehicle reportable segment includes vehicle sales to third party dealers as well as sales of new and used vehicles to end customers through our owned and operated dealership network of two dealerships. For recreational vehicle sales, the Company recognizes revenue when its performance obligation has been satisfied and control of the product is transferred to the dealer, which generally aligns with shipping terms. Shipping terms vary depending on regional contracting practices. U.S. customers primarily contract under FOB shipping point terms. European customers generally contract on ExWorks (“EXW”) incoterms (meaning the seller fulfills its obligation to deliver when it makes goods available at its premises, or another specified location, for the buyer to collect). Under EXW incoterms, the performance obligation is satisfied and control is transferred at the point when the customer is notified that the vehicle is available for pickup. Customers do not have a right of return. All warranties provided are assurance-type warranties. In addition to recreational vehicle sales, the Company’s European recreational vehicle reportable segment sells accessory items and provides repair services through our two owned dealerships. Each ordered item represents a distinct performance obligation satisfied when control of the good is transferred to the customer. Service and repair contracts with customers are short term in nature and are recognized when the service is complete. Revenue is measured as the amount of consideration to which the Company expects to be entitled in exchange for the Company’s products and services. The amount of revenue recognized includes adjustments for any variable consideration, such as sales discounts, sales allowances, promotions, rebates and other sales incentives which are included in the transaction price and allocated to each performance obligation based on the standalone selling price. The Company estimates variable consideration based on the expected value of total consideration to which customers are likely to be entitled to based primarily on historical experience and current market conditions. Included in the estimate is an assessment as to whether any variable consideration is constrained. Revenue estimates are adjusted at the earlier of a change in the expected value of consideration or when the consideration becomes fixed. During fiscal 2021 and fiscal 2020, adjustments to revenue from performance obligations satisfied in prior periods, which relate primarily to changes in estimated variable consideration, were immaterial. Amounts billed to customers related to shipping and handling activities are included in net sales. The Company has elected to account for shipping and handling costs as fulfillment activities, and these costs are included in cost of sales. We do not disclose information about the transaction price allocated to the remaining performance obligations at period end because our contracts generally have original expected durations of one year or less. In addition, we expense when incurred contract acquisition costs, primarily sales commissions, because the amortization period, which is aligned with the contract term, is one year or less. Advertising Costs – Advertising costs, which consist primarily of trade shows, are expensed as incurred, and were $44,638, $67,019 and $38,643 in fiscal 2021, 2020 and 2019, respectively. Foreign Currency – The financial statements of the Company’s foreign operations with a functional currency other than the U.S. dollar are translated into U.S. dollars using the exchange rate at each balance sheet date for assets and liabilities, and, for revenues and expenses, the weighted-average exchange rate for each applicable period, and the resulting translation adjustments are recorded in Accumulated Other Comprehensive Income (Loss), net of tax. Transaction gains and losses from foreign currency exchange rate changes are recorded in Other income (expense), net in the Consolidated Statements of Income and Comprehensive Income. Repurchase Agreements – The Company is contingently liable under terms of repurchase agreements with financial institutions providing inventory financing for certain independent domestic and foreign dealers of certain of its RV products. See Note 14 to the Consolidated Financial Statements for further information. Income Taxes – The objectives of accounting for income taxes are to recognize the amount of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in our financial statements or tax returns. Judgment is required in assessing the future tax consequences of events that have been recognized in our financial statements or tax returns. The actual outcome of these future tax consequences could differ from our estimates and have a material impact on our financial position or results of operations. The Company recognizes liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step requires the Company to estimate and measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. It is inherently difficult and subjective to estimate such amounts, as the Company has to determine the probability of various possible outcomes. The Company reevaluates these uncertain tax positions on a quarterly basis. This evaluation is based on factors including, but not limited to, changes in facts or circumstances, changes in tax law, effectively settled issues under audit, voluntary settlements and new audit activity. Such a change in recognition or measurement would result in the recognition of a tax benefit or an additional charge to the tax provision. Significant judgment is required in determining the Company’s provision for income taxes, the Company’s deferred tax assets and liabilities and the valuation allowance recorded against the Company’s deferred tax assets. Valuation allowances must be considered due to the uncertainty of realizing deferred tax assets. The Company assesses whether valuation allowances should be established against our deferred tax assets on a tax jurisdictional basis based on the consideration of all available evidence, including cumulative income over recent periods, using a more likely than not standard. Research and Development – Research and development costs are expensed when incurred and totaled $26,775, $19,123 and $9,381 in fiscal 2021, 2020 and 2019, respectively. Stock-Based Compensation – The Company records compensation expense based on the fair value of stock-based awards, including restricted stock and performance stock units, on a straight-line basis over the requisite service period, which is generally three years. Stock-based compensation expense is recorded net of estimated forfeitures, which is based on historical forfeiture rates over the vesting period of employee awards. Earnings Per Share – Basic earnings per common share (“EPS”) is computed by dividing net income attributable to THOR Industries, Inc. by the weighted-average number of common shares outstanding. Diluted EPS is computed by dividing net income attributable to THOR Industries, Inc. by the weighted-average number of common shares outstanding assuming dilution. The difference between basic EPS and diluted EPS is the result of unvested restricted stock units and performance stock units as follows: 2021 2020 2019 Weighted-average shares outstanding for basic earnings per share 55,333,959 55,172,694 53,905,667 Unvested restricted stock units and performance stock units 353,294 224,682 121,019 Weighted-average shares outstanding assuming dilution 55,687,253 55,397,376 54,026,686 The Company excluded 233,395 unvested restricted stock units and performance stock units that have an antidilutive effect from its calculation of weighted-average shares outstanding assuming dilution at July 31, 2019. Antidilutive unvested restricted stock units and performance stock units excluded from the July 31, 2021 and July 31, 2020 calculations were not material. Accounting Pronouncements Recently Adopted Accounting Standards In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting,” which provides optional expedients and exceptions for applying generally accepted accounting principles (GAAP) to contracts, hedging relationships, and other transactions affected by reference rate reform, if certain criteria are met. The optional expedients and exceptions are available for all entities as of March 12, 2020, through December 31, 2022. The Company adopted ASU 2020-04, effective March 12, 2020. While there was no impact to the Company’s consolidated financial statements at the time of adoption, the impact of this ASU will ultimately depend on the terms of any future contract modification related to a change in reference rate, including potential future modifications to the Company’s debt facilities and cash flow hedges. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment," which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge (referred to as Step 2 in the goodwill impairment test). Instead, if the carrying amount of a reporting unit exceeds its fair value, an impairment charge equal to that excess shall be recognized, not to exceed the amount of goodwill allocated to the reporting unit. This ASU is effective for annual and any interim impairment tests for periods beginning after December 15, 2019. This ASU became effective for, and was adopted by, the Company in its fiscal year 2021 beginning on August 1, 2020. The impact of this ASU on the Company's consolidated financial statements will depend on the outcomes of future goodwill impairment tests.

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Jul. 31, 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 adjustment 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 Consolidated Statements of Income and Comprehensive Income since the December 18, 2020 acquisition date. The Tiffin Group recorded net sales of $421,438 and net income before income taxes of $11,648 for the period from the date of acquisition through July 31, 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 $6,656 for the amortization expense related to the acquired backlog and the other acquired amortizable intangible assets. During the fiscal quarter end July 31, 2021, the Company made immaterial measurement period adjustments, primarily to deferred income taxes and goodwill, to better reflect the facts and circumstances that existed at the acquisition date. 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 the fair value analysis, but this analysis has not been fully completed. The provisional amounts included below, 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 65,064 Current liabilities (81,423) Deferred income tax liabilities (37,263) 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 networks were 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. Backlogs were valued based on the Discounted Cash Flow Method and were 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. Since its formation through March 23, 2020, the Company applied the equity method of accounting to the joint venture. Effective March 23, 2020 the Company and thl reached an agreement (the “2020 Agreement”) whereby the Company agreed to pay thl $6,000 on August 1, 2020 and, in return, obtained additional ownership interest in Togo Group. In addition, certain assets or rights to assets historically owned by Togo Group were distributed to thl in exchange for a corresponding reduction in thl ’s ownership interest in Togo Group. As a result of the 2020 Agreement, THOR obtained a 73.5% controlling interest in Togo Group and the power to direct the activities of Togo Group. Upon the effective date of the 2020 Agreement, the operating results, balance sheet accounts and cash flow activity of Togo Group were consolidated within the Company's 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. 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 fair value of the Company’s previously-held equity interest in Togo Group was estimated to be $47,256 immediately prior to the effective date of the 2020 Agreement. The Company recognized an immaterial gain as a result of remeasuring the previously-held equity interest to fair value. The fair value of the Company's previously-held equity interest was determined based on the fair value of Togo Group as of the effective date of the 2020 Agreement, measured using the Discounted Cash Flow method and the Company’s pre-transaction ownership interest percentage. Following the transaction, the Company holds a 73.5% ownership interest in Togo Group, comprised of Class A common units. In accordance with the 2020 Agreement, the ownership interest held by thl is comprised of Class B preferred units, which entitle thl to a liquidation preference and a 3% annual preferred cash dividend calculated on a stated value of $20,180. The Company has a call option in the amount of $20,180 relative to the Class B preferred units which is exercisable over a four-year period. The fair value of the Class B units, representing a non-controlling interest in Togo Group and shown in the table below, was determined using a Black-Scholes option pricing model and required the Company to make certain assumptions, including, but not limited to, expected volatility and dividend yield. The Company concluded that the non-controlling interest represents equity for accounting purposes based on its evaluation of the terms of the 2020 Agreement and characteristics of the Class B preferred units. During the fiscal quarter ended July 31, 2020, the Company made immaterial measurement period adjustments primarily to deferred income taxes and goodwill to better reflect the facts and circumstances that existed at the 2020 Agreement effective date. The table below summarizes the final fair value of 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 As of the 2020 Agreement effective date, amortizable intangible assets had a weighted-average useful life of approximately eight years and will be 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 equity method investment in Togo Group on a one-month lag. Beginning in the fiscal quarter ended April 30, 2020, that lag was eliminated. The impact of this change was not material to the Company's Consolidated Financial Statements. The Company's share of the loss from this investment recognized in the Company's 2020 fiscal year through the March 23, 2020 effective date of the 2020 Agreement was $6,884. The Company's share of the losses from this investment for the fiscal year ended July 31, 2019 were $8,798. Erwin Hymer Group SE On February 1, 2019, the Company acquired Erwin Hymer Group SE (“EHG”). EHG is headquartered in Bad Waldsee, Germany, and is one of the largest RV manufacturers in Europe. EHG is managed as a stand-alone operating entity that is included in the European recreational vehicle operating segment. In fiscal 2020, the Company made measurement period adjustments primarily related to the estimated fair value of certain fixed assets, other receivables and deferred income tax assets to better reflect the facts and circumstances that existed at the acquisition date. These adjustments resulted in a decrease in fixed assets, an increase in other receivables, increases in deferred income tax assets, a decrease in deferred income tax liabilities and a net increase of goodwill of $1,282. The impact to our fiscal 2020 Consolidated Statement of Income and Comprehensive Income as a result of these measurement period adjustments was immaterial. The following table summarizes the final fair values of the EHG assets acquired and liabilities assumed as of the acquisition date. Cash $ 97,887 Inventory 593,053 Other assets 435,747 Property, plant and equipment, rental vehicles 80,132 Property, plant and equipment 437,216 Amortizable intangible assets: Dealer network 355,601 Trademarks 126,181 Technology assets 183,536 Backlog 11,471 Goodwill 1,009,754 Guarantee liabilities related to former EHG North American subsidiaries (115,668) Other current liabilities (851,774) Debt – Unsecured notes (114,710) Debt – Other (166,196) Deferred income tax liabilities (152,186) Other long-term liabilities (17,205) Non-controlling interests (12,207) Total fair value of net assets acquired 1,900,632 Less: cash acquired (97,887) Total fair value of net assets acquired, less cash acquired $ 1,802,745 On the acquisition date, amortizable intangible assets had a weighted-average useful life of 17 years. The dealer network was valued based on the Discounted Cash Flow method and is amortized on an accelerated basis over 20 years. The trademarks and technology assets were valued on the Relief of Royalty method and are amortized on a straight-line basis over 20 years and 10 years, respectively. The backlog was valued based on the Discounted Cash Flow method and was amortized on a straight-line basis over a 5 month period. We recognized $1,009,754 of goodwill as a result of this transaction, of which approximately $311,000 is deductible for tax purposes. In connection with the closing of the acquisition, THOR and EHG entered into an amendment to exclude EHG’s North American subsidiaries from the business operations acquired by THOR. The acquisition date balance sheet included guarantee liabilities related to the former EHG North American subsidiaries totaling $115,668. Historically, EHG had provided guarantees for certain of its former North American subsidiaries that were assumed by THOR in the acquisition and which related to bank loans, foreign currency derivatives, certain specified supplier contracts and dealer financing arrangements, as well as a specific lease agreement. All of these guarantee liabilities have been settled and there were no outstanding liabilities at July 31, 2021 or July 31, 2020. Net costs incurred during fiscal 2019 related specifically to this acquisition totaled $114,866 and are included in Acquisition-related costs in the Consolidated Statements of Income and Comprehensive Income. These costs include the losses on the foreign currency forward contract of $70,777 discussed in Note 4 to the Consolidated Financial Statements, and $44,089 of other expenses, consisting primarily of bank fees, ticking fees, legal, professional and advisory fees related to financial due diligence and implementation costs, regulatory review costs and the write-off of the remaining unamortized debt fees related to the Company’s previous asset-based facility. 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, the fiscal 2020 acquisition of the Togo Group had occurred at the beginning of fiscal 2019 and the fiscal 2019 acquisition of EHG had occurred at the beginning of fiscal 2018. The disclosure of pro forma net sales and earnings does not purport to indicate the results that would actually have been obtained had the acquisition been completed on the assumed date for the periods presented, or which may be realized in the future. The unaudited pro forma information does not reflect any operating efficiencies or cost savings that may be realized from the integration of the acquisition. Fiscal 2021 Fiscal 2020 Fiscal 2019 Net sales $ 12,581,282 $ 8,870,746 $ 9,067,750 Net income $ 667,308 $ 223,861 $ 136,831 Basic earnings per common share $ 12.06 $ 4.06 $ 2.54 Diluted earnings per common share $ 11.98 $ 4.04 $ 2.53 The pro forma earnings for the fiscal year ended July 31, 2019 were adjusted to exclude $114,866 of acquisition-related costs. Fiscal 2019 also excludes $61,418 of nonrecurring expense related to the fair value adjustment to acquisition-date inventory. EHG’s historical net income included in the total above includes nonrecurring charges related to its former North American operations in the amount of $52,501 during the fiscal year ended July 31, 2019. These charges primarily consist of EHG’s guarantees to third parties for certain North American subsidiary obligations and the impairment of loan receivables due to EHG from their former North American subsidiaries.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	12 Months Ended
	Jul. 31, 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 North American towable recreational vehicle reportable segment consists of the following operating segments that have been aggregated: Airstream (towable), Heartland (including Cruiser RV and DRV), Jayco (including Jayco towable, Starcraft and Highland Ridge), Keystone (including CrossRoads and Dutchmen), KZ (including Venture RV) and Tiffin Group (namely, Vanleigh RV). The North American motorized recreational vehicle reportable segment consists of the following operating segments that have been aggregated: Airstream (motorized), Jayco (including Jayco motorized and Entegra Coach), Thor Motor Coach and Tiffin Group (primarily Tiffin Motorhomes, Inc.). The European recreational vehicles reportable segment consists solely of the EHG business. EHG manufactures a full line of towable and motorized recreational vehicles, including motorcaravans, caravans and campervans in eight primary RV production locations within Europe. EHG produces and sells numerous brands primarily within Europe, including Buccaneer, Buerstner, Carado, Compass, CrossCamp, Dethleffs, Elddis, Eriba, Etrusco, Hymer, Laika, LMC, Niesmann+Bischoff, Sunlight and Xplore. In addition, EHG’s operations include other RV-related products and services. The operations of the Company’s Postle and Togo Group subsidiaries are included in “Other,” which is a non-reportable segment. Net sales included in Other relate primarily to the sale of aluminum extrusions and specialized component products. Intercompany eliminations adjust for Postle sales to the Company’s North American towable and North American motorized segments, which are consummated at established transfer prices generally consistent with the selling prices of extrusion components to third-party customers. Total assets include those assets used in the operation of each reportable and non-reportable segment, and the Corporate assets consist primarily of cash and cash equivalents, deferred income taxes, deferred compensation plan assets and certain Corporate real estate holdings primarily utilized by THOR’s U.S.-based operating subsidiaries. 2021 2020 2019 NET SALES: Recreational vehicles North American Towables $ 6,221,928 $ 4,140,482 $ 4,558,451 North American Motorized 2,669,391 1,390,098 1,649,329 Total North America 8,891,319 5,530,580 6,207,780 European 3,200,079 2,485,391 1,486,978 Total recreational vehicles 12,091,398 8,015,971 7,694,758 Other 373,174 234,481 263,374 Intercompany eliminations (147,192) (82,519) (93,374) Total $ 12,317,380 $ 8,167,933 $ 7,864,758 INCOME (LOSS) BEFORE INCOME TAXES: Recreational vehicles North American Towables $ 658,964 $ 336,207 $ 322,228 North American Motorized 202,057 71,943 80,910 Total North America 861,021 408,150 403,138 European 116,576 9,850 (5,946) Total recreational vehicles 977,597 418,000 397,192 Other, net 57,674 27,751 29,086 Corporate (190,690) (172,855) (241,612) Total $ 844,581 $ 272,896 $ 184,666 2021 2020 TOTAL ASSETS: Recreational vehicles North American Towables $ 1,870,577 $ 1,529,913 North American Motorized 1,073,506 480,225 Total North America 2,944,083 2,010,138 European 2,975,821 3,102,071 Total recreational vehicles 5,919,904 5,112,209 Other, net 272,350 212,378 Corporate 461,834 446,873 Total $ 6,654,088 $ 5,771,460 2021 2020 2019 DEPRECIATION AND INTANGIBLE ASSET AMORTIZATION EXPENSE: Recreational vehicles North American Towables $ 66,078 $ 66,042 $ 67,751 North American Motorized 23,153 14,202 13,831 Total North America 89,231 80,244 81,582 European 127,432 103,671 54,881 Total recreational vehicles 216,663 183,915 136,463 Other, net 12,220 10,488 10,647 Corporate 1,698 1,764 1,667 Total $ 230,581 $ 196,167 $ 148,777 CAPITAL ACQUISITIONS: Recreational vehicles North American Towables $ 35,816 $ 27,219 $ 69,321 North American Motorized 22,230 12,603 17,179 Total North America 58,046 39,822 86,500 European 66,930 62,165 35,653 Total recreational vehicles 124,976 101,987 122,153 Other, net 5,620 2,664 3,493 Corporate 1,085 1,172 1,599 Total $ 131,681 $ 105,823 $ 127,245 DESTINATION OF NET SALES BY GEOGRAPHIC REGION: United States $ 8,462,652 $ 5,296,482 $ 5,803,373 Germany 1,977,808 1,494,419 836,151 Other Europe 1,189,747 966,023 636,105 Canada 638,118 377,053 561,172 Other foreign 49,055 33,956 27,957 Total $ 12,317,380 $ 8,167,933 $ 7,864,758 2021 2020 PROPERTY, PLANT AND EQUIPMENT BY GEOGRAPHIC REGION: United States $ 626,375 $ 564,171 Germany 460,446 444,981 Other Europe 95,266 93,220 Other 3,044 5,277 Total $ 1,185,131 $ 1,107,649

DERIVATIVES AND HEDGING

DERIVATIVES AND HEDGING	12 Months Ended
	Jul. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES AND HEDGING	DERIVATIVES AND HEDGING The Company uses interest rate swap agreements, foreign currency forward contracts and certain non-derivative financial instruments to manage its risks associated with foreign currency exchange rates and interest rates. The Company does not hold derivative financial instruments of a speculative nature or for trading purposes. The Company records derivatives as assets and liabilities on the balance sheet at fair value. Changes in the fair value of derivative instruments are recognized in earnings unless the derivative qualifies and is designated as a hedge. Cash flows from derivatives are classified in the Consolidated Statements of Cash Flows in the same category as the cash flows from the items subject to designated hedge or undesignated (economic) hedge relationships. The Company evaluates hedge effectiveness at inception and on an ongoing basis. If a derivative is no longer expected to be effective, hedge accounting is discontinued. Certain of the Company’s derivative transactions are subject to master netting arrangements that allow the Company to net settle contracts with the same counter parties. These arrangements generally do not call for collateral and as of the applicable dates presented below, no cash collateral had been received or pledged related to the underlying derivatives. The fair value of our derivative instruments designated as cash flow hedges and the associated notional amounts, presented on a pre-tax basis, were as follows: July 31, 2021 July 31, 2020 Cash Flow Hedges Notional Fair Value in Notional Fair Value in Foreign currency forward contracts $ 41,899 $ 88 $ — $ — Interest rate swap agreements 482,138 11,420 673,400 24,840 Total derivative financial instruments $ 524,037 $ 11,508 $ 673,400 $ 24,840 Foreign currency forward contracts outstanding at July 31, 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 July 31, 2021 is 30,000 GBP ($41,899), 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 July 31, 2021, the outstanding swaps had notional contract values of $482,138, partially hedging the interest rate risk related to the Company's U.S. dollar term loan tranche that matures in February 2026. Cash Flow Hedges The Company has used foreign currency forward contracts to hedge the effect of certain foreign currency exchange rate fluctuations on forecasted foreign currency transactions, including foreign currency denominated sales. These forward contracts are designated as cash flow hedges. The changes in fair value of these contracts are recorded in accumulated other comprehensive income (“AOCI”) until the hedged items affect earnings, at which time the gain or loss is reclassified into the same line item in the determination of net income as the underlying exposure being hedged. Foreign currency forward contracts accounted for as cash flow hedges and outstanding at July 31, 2021 mature over the next six months. The Company has entered into interest rate swap agreements to manage certain of its interest rate exposures. During fiscal 2019, the Company entered into pay-fixed, receive-floating interest rate swap agreements, totaling $900,000 in initial value, in order to hedge against interest rate risk relating to the Company’s floating rate debt agreements. The $900,000 in initial value declines quarterly over the initial 4.5 year term of the swaps. The interest rate swaps are designated as cash flow hedges of the expected interest payments related to the Company’s LIBOR-based floating rate debt. Amounts initially recorded in AOCI are reclassified to interest expense over the life of the debt as the forecasted interest transactions occur. Net Investment Hedges The Company designates a portion of its outstanding Euro-denominated term loan tranche as a hedge of foreign currency exposures related to investments the Company has in certain Euro-denominated functional currency subsidiaries. The foreign currency transaction gains and losses on the Euro-denominated portion of the term loan, which is designated and determined to be 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 (losses), net of tax, included in the foreign currency translation adjustments were $(1,943), $(25,915) and $7,780 for the fiscal years ended July 31, 2021, July 31, 2020 and July 31, 2019, respectively. There were no amounts reclassified out of AOCI pertaining to the net investment hedge during the fiscal years ended July 31, 2021, July 31, 2020 and July 31, 2019. Derivatives Not Designated as Hedging Instruments As described in more detail in Note 2 to the Consolidated Financial Statements, on September 18, 2018, the Company entered into a definitive agreement to acquire EHG, which closed on February 1, 2019. The cash portion of the purchase price was denominated in Euro, and therefore the Company’s cash flows were exposed to changes in the Euro/USD exchange rate between the September 18, 2018 agreement date and the closing date. To reduce its exposure, the Company entered into a deal-contingent, foreign currency forward contract on the September 18, 2018 agreement date in the amount of 1.625 billion Euro. Hedge accounting was not applied to this instrument, and therefore all changes in fair value were recorded in earnings. The contract was settled in connection with the close of the EHG acquisition on February 1, 2019 in the amount of $70,777, resulting in a loss of the same amount which is included in Acquisition-related costs in the Consolidated Statements of Income and Comprehensive Income. The Company also has certain other derivative instruments which have not been designated as hedges. These other derivative instruments had a notional amount totaling approximately $32,466 and a fair value of $1,948 which is included in Other current liabilities in the Consolidated Balance Sheet as of July 31, 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 Consolidated Statements of Income and Comprehensive Income due to changes in the fair value of the following derivative instruments for the fiscal years ended July 31, 2021, 2020 and 2019 are as follows: 2021 2020 2019 Gain (Loss) on Derivatives Designated as Cash Flow Hedges Gain (loss) recognized in Other comprehensive income (loss), net of tax Foreign currency forward contracts $ (63) $ — $ 129 Interest rate swap agreements (1) 10,231 (9,351) (9,396) Total gain (loss) $ 10,168 $ (9,351) $ (9,267) (1) Other comprehensive income (loss), net of tax, before reclassification from AOCI was $340, $(15,265) and $(9,320) for fiscal years 2021, 2020 and 2019, respectively. 2021 Sales Interest Gain (Loss) Reclassified from AOCI, Net of Tax Foreign currency forward contracts $ (1,050) $ — Interest rate swap agreements — (9,891) Gain (Loss) on Derivatives Not Designated as Hedging Instruments Amount of gain (loss) recognized in income, net of tax Interest rate swap agreements — (85) Total gain (loss) $ (1,050) $ (9,976) 2020 Sales Interest Gain (Loss) Reclassified from AOCI, Net of Tax Foreign currency forward contracts $ (386) $ — Interest rate swap agreements — (5,914) Gain (Loss) on Derivatives Not Designated as Hedging Instruments Amount of gain (loss) recognized in income, net of tax Interest rate swap agreements — (376) Total gain (loss) $ (386) $ (6,290) 2019 Sales Acquisition-Related Costs Interest Gain (Loss) Reclassified from AOCI, Net of Tax Foreign currency forward contracts $ 129 $ — $ — Interest rate swap agreements — — 76 Gain (Loss) on Derivatives Not Designated as Hedging Instruments Amount of gain (loss) recognized in income, net of tax Foreign currency forward contracts — (70,777) — Interest rate swap agreements — — (438) Total gain (loss) $ 129 $ (70,777) $ (362)

INVENTORIES

INVENTORIES	12 Months Ended
	Jul. 31, 2021
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Major classifications of inventories are as follows: July 31, 2021 July 31, 2020 Finished goods—RV $ 114,843 $ 152,297 Finished goods—other 57,810 44,779 Work in process 376,594 128,181 Raw materials 602,106 302,813 Chassis 292,921 135,194 Subtotal 1,444,274 763,264 Excess of FIFO costs over LIFO costs (74,890) (46,959) Total inventories, net $ 1,369,384 $ 716,305 Of the $1,444,274 and $763,264 of inventories at July 31, 2021 and July 31, 2020, $946,767 and $512,165, respectively, was valued on the first-in, first-out (“FIFO”) method, and $497,507 and $251,099, respectively, was valued on the last-in, first-out (“LIFO”) basis.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Jul. 31, 2021
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consists of the following: July 31, 2021 July 31, 2020 Land $ 142,746 $ 136,200 Buildings and improvements 837,065 760,986 Machinery and equipment 523,714 438,985 Rental vehicles 75,449 83,534 Lease right-of-use assets – operating 42,601 33,609 Lease right-of-use assets – finance 7,010 3,672 Total cost 1,628,585 1,456,986 Less accumulated depreciation (443,454) (349,337) Property, plant and equipment, net $ 1,185,131 $ 1,107,649 See Note 15 to the Consolidated Financial Statements for further information regarding the lease right-of-use assets.

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	12 Months Ended
	Jul. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	INTANGIBLE ASSETS AND GOODWILL The components of amortizable intangible assets are as follows: July 31, 2021 July 31, 2020 Cost Accumulated Cost Accumulated Dealer networks/customer relationships $ 861,562 $ 327,751 $ 766,198 $ 252,320 Trademarks 311,208 62,675 275,775 47,743 Design technology and other intangibles 215,956 62,237 213,468 40,654 Non-compete agreements 1,400 292 — — Total amortizable intangible assets $ 1,390,126 $ 452,955 $ 1,255,441 $ 340,717 Estimated annual amortization expense is as follows: For the fiscal year ending July 31, 2022 $ 124,151 For the fiscal year ending July 31, 2023 105,779 For the fiscal year ending July 31, 2024 95,960 For the fiscal year ending July 31, 2025 87,817 For the fiscal year ending July 31, 2026 79,049 For the fiscal year ending July 31, 2027 and thereafter 444,415 $ 937,171 For goodwill impairment testing purposes, the Company’s reporting units are generally the same as its operating segments, which are identified in Note 3 to the Consolidated Financial Statements. 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, as it was determined that each group of assets would be sold before the end of their previously estimated useful lives and within the next twelve months. The Company recognized an aggregate impairment charge of $10,057 related to these assets during the fiscal quarter ended January 31, 2020, which included a goodwill impairment charge of $1,036. The sales of these assets were completed during the fiscal quarter ended April 30, 2020. The Company completed its annual goodwill impairment test for fiscal 2021 as of May 31, 2021, and no impairment was identified. There were no impairments of goodwill during fiscal 2020 or 2019 other than the impairment of $1,036 noted above. Changes in the carrying amount of goodwill by reportable segment as of July 31, 2021 and July 31, 2020 are summarized as follows: North North European Other Total Net balance as of July 31, 2019 $ 334,822 $ — $ 980,339 $ 42,871 $ 1,358,032 Fiscal year 2020 activity: Goodwill acquired — — — 62,366 62,366 Measurement period adjustment — — 1,282 (411) 871 Foreign currency translation and other — — 56,308 — 56,308 Impairment charge (1,036) (1,036) Net balance as of July 31, 2020 $ 333,786 $ — $ 1,037,929 $ 104,826 $ 1,476,541 Fiscal year 2021 activity: Goodwill acquired 18,845 43,491 — 17,882 80,218 Measurement period adjustment (7,656) 10,384 — — 2,728 Foreign currency translation and other — — 3,768 — 3,768 Net balance as of July 31, 2021 $ 344,975 $ 53,875 $ 1,041,697 $ 122,708 $ 1,563,255 The components of the goodwill balances as of July 31, 2021 and July 31, 2020 are summarized as follows: North North European Other Total Goodwill $ 355,124 $ 71,127 $ 1,041,697 $ 122,708 $ 1,590,656 Accumulated impairment charges (10,149) (17,252) — — (27,401) Net balance as of July 31, 2021 $ 344,975 $ 53,875 $ 1,041,697 $ 122,708 $ 1,563,255 North North European Other Total Goodwill $ 343,935 $ 17,252 $ 1,037,929 $ 104,826 $ 1,503,942 Accumulated impairment charges (10,149) (17,252) — — (27,401) Net balance as of July 31, 2020 $ 333,786 $ — $ 1,037,929 $ 104,826 $ 1,476,541

CONCENTRATION OF RISK

CONCENTRATION OF RISK	12 Months Ended
	Jul. 31, 2021
Risks and Uncertainties [Abstract]
CONCENTRATION OF RISK	CONCENTRATION OF RISKOne dealer, FreedomRoads, LLC, accounted for approximately 13.0% of the Company’s consolidated net sales in fiscal 2021 and approximately 15.0% and 18.5% in fiscal 2020 and fiscal 2019, respectively. Sales to this dealer are reported within both the North American towables and North American motorized segments. This dealer also accounted for approximately 15.0% of the Company’s consolidated trade accounts receivable at July 31, 2021 and approximately 18.0% at July 31, 2020. The loss of this dealer could have a material effect on the Company’s business.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Jul. 31, 2021
Postemployment Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Substantially all non-highly compensated U.S. employees are eligible to participate in a 401(k) plan. The Company may make discretionary contributions to the 401(k) plan according to a matching formula determined by each operating subsidiary. Total expense for the plan was $2,081 in fiscal 2021, $2,987 in fiscal 2020 and $3,197 in fiscal 2019. The Company has established a deferred compensation plan for highly compensated U.S. employees who are not eligible to participate in a 401(k) plan. This plan allows participants to defer a portion of their compensation and the Company then invests the funds in a combination of corporate-owned life insurance ("COLI") and mutual fund investments held by the Company. The employee deferrals and the results and returns of the investments selected by the participants, which totaled $84,588 at July 31, 2021 and $61,290 at July 31, 2020, are recorded as Other long-term liabilities in the Consolidated Balance Sheets. Investments held by the Company are accounted for at cash surrender value for COLI and at fair value for mutual fund investments. Both types of company-owned assets, which in total approximate the same value as the plan liabilities, are reported as Other long-term assets on the Consolidated Balance Sheets. Changes in the value of the plan assets are reflected within Other income (expense), net on the Consolidated Statements of Income and Comprehensive Income. Changes in the value of the liability are reflected within Selling, general and administrative expenses on the Consolidated Statements of Income and Comprehensive Income. The Company does not make contributions to the deferred compensation plan. The Company also incurred costs related to certain pension obligations from post-employment defined benefit plans to certain current and former employees of the European segment. A significant portion of these plans are not available to new hires. Total expense for these plans in fiscal 2021, fiscal 2020 and fiscal 2019, and the pension plan assets and obligations at July 31, 2021 and July 31, 2020, were immaterial.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Jul. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The Company assesses the inputs used to measure the fair value of certain assets and liabilities using a three-level hierarchy, as prescribed in ASC 820, “Fair Value Measurements and Disclosures,” as defined below: • Level 1 inputs include quoted prices in active markets for identical assets or liabilities and are the most observable. • Level 2 inputs include inputs other than Level 1 that are either directly or indirectly observable, such as quoted market prices for similar but not identical assets or liabilities, quoted prices in inactive markets or other inputs that can be corroborated by observable market data. • Level 3 inputs are not observable, are supported by little or no market activity and include management’s judgments about the assumptions market participants would use in pricing the asset or liability. The financial assets and liabilities that were accounted for at fair value on a recurring basis at July 31, 2021 and July 31, 2020 are as follows: Input Level July 31, 2021 July 31, 2020 Cash equivalents Level 1 $ 204 $ 227,154 Deferred compensation plan mutual fund assets Level 1 $ 51,085 $ 47,327 Deferred compensation plan liabilities Level 1 $ 84,588 $ 61,290 Foreign currency forward contract liability Level 2 $ 88 $ — Interest rate swap liabilities Level 2 $ 13,369 $ 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 Consolidated Balance Sheets. Deferred compensation plan assets accounted for at fair value are investments in securities (primarily mutual funds) traded in an active market held for the benefit of certain employees of the Company as part of a deferred compensation plan. Additional plan investments in corporate-owned life insurance are recorded at their cash surrender value, not fair value, and therefore are not included above. The fair value of interest rate swaps is determined by discounting the estimated future cash flows based on the applicable observable yield curves.

PRODUCT WARRANTY

PRODUCT WARRANTY	12 Months Ended
	Jul. 31, 2021
Guarantees and Product Warranties [Abstract]
PRODUCT WARRANTY	PRODUCT WARRANTY The Company generally provides retail customers of its products with a 1 year or 2 year warranty covering defects in material or workmanship, with longer warranties on certain structural components. The Company records a liability based on its best estimate of the amounts necessary to settle future and existing claims on products sold as of the balance sheet date. Factors used in estimating the warranty liability include a history of retail units sold, existing dealer inventory, average cost incurred and a profile of the distribution of warranty expenditures over the warranty period. Actual claims incurred could differ from estimates, requiring adjustments to the liabilities. Changes in our product warranty liabilities during the indicated periods are as follows: 2021 2020 2019 Beginning balance $ 252,869 $ 289,679 $ 264,928 Provision 261,851 198,873 233,927 Payments (258,624) (238,590) (251,071) Acquisition 11,032 — 43,329 Foreign currency translation 492 2,907 (1,434) Ending balance $ 267,620 $ 252,869 $ 289,679

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
	Jul. 31, 2021
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT The components of long-term debt are as follows: July 31, 2021 July 31, 2020 Term loan $ 1,540,013 $ 1,597,091 Unsecured notes 29,728 29,620 Other debt 70,952 84,500 Total long-term debt 1,640,693 1,711,211 Debt issuance costs, net of amortization (33,461) (44,563) Total long-term debt, net of debt issuance costs 1,607,232 1,666,648 Less: current portion of long-term debt (12,411) (13,817) Total long-term debt, net, less current portion $ 1,594,821 $ 1,652,831 The Company is a party to a seven-year term loan (“term loan”) agreement, which originally consisted of both a United States dollar-denominated term loan tranche of $1,386,434 and a Euro-denominated term loan tranche of 617,718 Euro ($708,584 at closing date exchange rate), and a $750,000 asset-based credit facility (“ABL”). Subject to earlier termination, the term loan matures on February 1, 2026 and the ABL originally matured on February 1, 2024. Effective September 1, 2021, the ABL facility limit has been increased to $1,000,000, and the maturity date extended to September 1, 2026, as discussed in the Note 19 to the Consolidated Financial Statements. Under the term loan, both the U.S. and Euro tranches required annual principal payments of 1.00% of the initial term loan balance, payable quarterly in 0.25% installments starting on May 1, 2019. As of July 31, 2021, however, the Company had made sufficient payments on both the U.S. and Euro tranches to fulfill all annual principal payment requirements over the term of the loan. Borrowings under the U.S. term loan originally bore interest at LIBOR or Alternate Base Rate ("ABR" as defined in the term loan facility agreement) plus an applicable margin of 3.75% for LIBOR-based loans or 2.75% for ABR-based loans. Interest on the Euro portion of the term loan was originally at EURIBOR (subject to a 0.00% floor) plus 4.00%. 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. Interest is payable quarterly for ABR-based loans and monthly for LIBOR and EURIBOR-based loans. As of July 31, 2021, the entire outstanding U.S. term loan tranche balance of $941,900 was subject to a LIBOR-based rate totaling 3.125%, but the interest rate on $482,138 of that balance 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 totaling 3.938%, but the interest rate on $673,400 of that balance was fixed at 6.216% through the March 18, 2019 interest rate swap noted above. The total interest rate on the July 31, 2021 outstanding Euro term loan tranche balance of $598,113 was 3.00%, and the total interest rate on the July 31, 2020 outstanding Euro term loan tranche balances of $655,191 was 4.00%. The Company must make mandatory prepayments of principal under the term loan agreement upon the occurrence of certain specified events, including certain asset sales, debt issuances and receipt of annual cash flows in excess of certain amounts. No such specified events occurred during fiscal 2021 or fiscal 2020. The Company may, at its option, prepay any borrowings under the term loan, in whole or in part, at any time without premium or penalty (except in certain circumstances). The Company may add one or more incremental term loan facilities to the term loan, subject to obtaining commitments from any participating lenders and certain other conditions. Availability under the ABL agreement is subject to a borrowing base based on a percentage of applicable eligible receivables and eligible inventory. The ABL carries interest at an annual base rate plus 0.25% to 0.75%, or LIBOR plus 1.25% to 1.75%, based on adjusted excess availability as defined in the ABL agreement. This agreement also includes a 0.25% unused facility fee. The Company may, generally at its option, pay any borrowings under the ABL, in whole or in part, at any time and from time to time, without premium or penalty. There were no borrowings outstanding on the ABL agreement as of July 31, 2021 and July 31, 2020. The ABL contains a financial covenant which requires the Company to maintain a minimum consolidated fixed-charge coverage ratio of 1.0X, although the covenant is only applicable when adjusted excess availability falls below a threshold of the greater of a) 10% of the lesser of the borrowing base availability or the revolver line total, or b) $60,000. Up to $75,000 of the ABL is available for the issuance of letters of credit, and up to $75,000 is available for swing-line loans. The Company may also increase commitments under the ABL by up to $150,000 by obtaining additional commitments from lenders and adhering to certain other conditions. The unused availability under the ABL is generally available to the Company for general operating purposes, and based on July 31, 2021 eligible receivable and inventory balances and net of amounts drawn, if any, totaled approximately $720,000. The unsecured notes of 25,000 Euro ($29,728) at July 31, 2021 relate to long-term debt of our European segment. There are two series, 20,000 Euro ($23,782) with an interest rate of 1.945% maturing in March 2025, and 5,000 Euro ($5,946) 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%. The Company considers cash pledged as collateral against real estate loans or certain revolving debt obligations within its European rental fleet obligations to be restricted cash. Total contractual debt maturities are as follows: For the fiscal year ending July 31, 2022 $ 12,411 For the fiscal year ending July 31, 2023 12,194 For the fiscal year ending July 31, 2024 12,321 For the fiscal year ending July 31, 2025 35,979 For the fiscal year ending July 31, 2026 1,543,267 For the fiscal year ending July 31, 2027 and thereafter 24,521 $ 1,640,693 The March 25, 2021 term loan debt repricing noted above 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 fiscal 2021. This charge is classified as interest expense in the Company’s Consolidated Statements of Income and Comprehensive Income. For the majority of the creditors, the debt repricing was accounted for as a modification. In fiscal 2019, the Company incurred fees ("2019 fees") totaling $56,166 and $14,010 to secure the term loan and ABL, respectively, and those amounts are being amortized ratably over the respective seven For fiscal 2021, interest expense on the term loan, ABL and other debt facilities was $76,072. In addition, the Company recorded total charges related to the amortization of the term loan and ABL fees, which are classified as interest expense, of $15,407 for fiscal 2021, which included $4,688 of debt extinguishment charge related to the 2019 fees recorded as a result of the debt repricing noted above. The unamortized balance of the ABL facility fees was $7,005 at July 31, 2021 and is included in Other long-term assets in the Consolidated Balance Sheets. For fiscal 2020, interest expense on the term loan, ABL and other debt facilities was $93,475. In addition, the Company recorded total charges related to the amortization of the term loan and ABL fees, which are classified as interest expense, of $10,743 for fiscal 2020. The unamortized balance of the ABL facility fees was $9,807 at July 31, 2020 and is included in Other long-term assets in the Consolidated Balance Sheets. For fiscal 2019, interest expense on the term loan, ABL and other debt facilities was $56,932. In addition, the Company recorded total charges related to the amortization of the term loan and ABL fees, which are classified as interest expense, of $5,404 for fiscal 2019. Interest expense for fiscal 2019 also included $785 of amortization expense of capitalized debt fees related to the Company’s previous asset-based credit agreement that was terminated on February 1, 2019. The fair value of the Company's term loan debt at July 31, 2021 and July 31, 2020 was $1,551,141 and $1,565,866, respectively. The carrying value of the Company’s term loan debt, excluding debt issuance costs, was $1,540,013 and $1,597,091 at July 31, 2021 and July 31, 2020, respectively. The fair value of the Company’s debt is primarily estimated using Level 2 inputs as defined by ASC 820. The fair value of other debt held by the Company approximates carrying value.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jul. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The sources of earnings before income taxes are as follows: For the Fiscal Year Ended July 31, 2021 2020 2019 United States $ 725,262 $ 258,483 $ 200,859 Foreign 119,319 14,413 (16,193) Total $ 844,581 $ 272,896 $ 184,666 The components of the provision for income taxes are as follows: For the Fiscal Year Ended July 31, Income Taxes: 2021 2020 2019 U.S. Federal $ 148,706 $ 49,494 $ 48,757 U.S. state and local 26,344 9,891 5,921 Foreign 17,571 1,842 6,611 Total current expense 192,621 61,227 61,289 U.S. Federal 162 6,472 10,862 U.S. state and local (365) (197) (36) Foreign (8,707) (15,990) (19,914) Total deferred expense (benefit) (8,910) (9,715) (9,088) Total income tax expense $ 183,711 $ 51,512 $ 52,201 On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") was signed into law. The CARES Act includes several changes impacting businesses, including, but not limited to, enhanced business interest deductibility, net operating loss ("NOL") carryback provisions, payroll tax deferral provisions and employee retention tax credits. The Company determined that the impacts of the CARES Act are not material to the Consolidated Financial Statements. On March 11, 2021, the American Rescue Plan Act (the "Act") was signed into law. The Act includes several changes impacting business, including, but not limited to, insurance premium subsidies, extension of employee retention tax credits and amendments to deductible compensation. The Company determined that the impacts of the Act are not material to the Consolidated Financial Statements. The differences between income tax expense at the federal statutory rate and the actual income tax expense are as follows: For the Fiscal Year Ended July 31, 2021 2020 2019 Provision at federal statutory rate $ 177,362 $ 57,308 $ 38,779 Differences between U.S. federal statutory and foreign tax rates (16,857) (50,898) 1,478 Foreign currency remeasurement (gains) losses 1,595 30,246 (12,942) U.S. state and local income taxes, net of federal benefit 20,407 7,616 4,642 Nondeductible compensation 6,418 2,249 2,401 Nondeductible acquisition costs — — 3,031 Nondeductible foreign currency forward contract loss on acquisition — — 14,863 Federal income tax credits and incentives (3,530) (1,738) (3,373) Change in uncertain tax positions 1,209 1,101 1,279 Other (2,893) 5,628 2,043 Total income tax expense $ 183,711 $ 51,512 $ 52,201 A summary of the deferred income tax balances is as follows: July 31, 2021 2020 Deferred income tax asset (liability): Inventory basis $ 3,158 $ 1,000 Employee benefits 10,485 7,353 Self-insurance reserves 6,949 4,923 Accrued product warranties 53,258 53,586 Accrued incentives 4,403 4,316 Sales returns and allowances 934 1,027 Accrued expenses 7,496 6,733 Property, plant and equipment (36,662) (28,438) Operating leases 10,615 9,110 Deferred compensation 19,260 15,876 Intangibles (173,360) (147,423) Net operating loss and other carryforwards 38,669 32,877 Unrealized loss 609 4,892 Unrecognized tax benefits 3,946 3,046 Other (4,949) 4,558 Valuation allowance (17,193) (18,500) Deferred income tax (liability), net $ (72,382) $ (45,064) Deferred tax assets are reduced by a valuation allowance if, based upon available evidence, it is more likely than not that some, or all, of the deferred tax assets will not be realized. The valuation allowances recorded at July 31, 2021 and July 31, 2020 relate to certain foreign net operating loss carry forwards and other assets in foreign jurisdictions. With the exception of foreign subsidiary investment basis differences not attributable to unrepatriated foreign earnings, we consider all of our undistributed earnings of our foreign subsidiaries, as of July 31, 2021, to not be indefinitely reinvested outside of the United States. As of July 31, 2021, the related income tax cost of the repatriation of foreign earnings is not material. As of July 31, 2021, the Company has $2,972 of U.S. state tax credit carry forwards that expire from fiscal 2030-2031 which the Company expects to realize prior to expiration. At July 31, 2021, the Company had $75,407 of gross NOL carry forwards in certain foreign jurisdictions that will expire from fiscal 2023 to indefinite carryforward, of which $70,037 has been reserved with a valuation allowance and the remaining amount the Company expects to realize. In addition, the Company has $4,961 of gross U.S. state tax NOL carryforwards that expire from fiscal 2022-2041 that the Company does not expect to realize and therefore has been fully reserved with a valuation allowance. The benefits of tax positions reflected on income tax returns but whose outcome remains uncertain are only recognized for financial accounting purposes if they meet minimum recognition thresholds. The total amount of unrecognized tax benefits that, if recognized, would have impacted the Company’s effective tax rate were $13,631 for fiscal 2021, $11,606 for fiscal 2020 and $11,332 for fiscal 2019. Changes in the unrecognized tax benefit during fiscal years 2021, 2020 and 2019 were as follows: 2021 2020 2019 Beginning balance $ 14,238 $ 13,848 $ 13,004 Tax positions related to prior years: Additions 72 73 — Reductions (277) (129) (263) Tax positions related to current year: Additions 4,346 1,966 2,062 Settlements (3,363) — (773) Lapses in statute of limitations (2,701) (1,520) (918) Tax positions acquired 4,710 — 736 Ending balance $ 17,025 $ 14,238 $ 13,848 It is the Company’s policy to recognize interest and penalties accrued relative to unrecognized tax benefits in income tax expense. The total amount of liabilities accrued for interest and penalties related to unrecognized tax benefits as of July 31, 2021 and July 31, 2020 were $2,967 and $2,516, respectively. The total amount of interest and penalties expense recognized in the Consolidated Statements of Income and Comprehensive Income for the fiscal years ended July 31, 2021, July 31, 2020 and July 31, 2019 were $238, $544 and $454, respectively. The total unrecognized tax benefits above, along with the related accrued interest and penalties, are reported within the liability section of the Consolidated Balance Sheets. A portion of the unrecognized tax benefits is classified as short-term and is included in the “Income and other taxes” line of the Consolidated Balance Sheets, while the remainder is classified as a long-term liability. The components of total unrecognized tax benefits are summarized as follows: July 31, 2021 2020 Unrecognized tax benefits $ 17,025 $ 14,238 Reduction to unrecognized tax benefits which offset tax credit and loss carryforwards (725) (809) Accrued interest and penalties 2,967 2,516 Total unrecognized tax benefits $ 19,267 $ 15,945 Short-term, included in “Income and other taxes” $ 3,423 $ 3,180 Long-term 15,844 12,765 Total unrecognized tax benefits $ 19,267 $ 15,945 The Company anticipates a decrease of approximately $4,600 in unrecognized tax benefits and $1,600 in interest during fiscal 2022 from expected settlements or payments of uncertain tax positions and lapses of the applicable statutes of limitations. Actual results may differ from these estimates. The Company files income tax returns in the U.S. federal jurisdiction and in many U.S. state and foreign jurisdictions. The Company is currently under exam by certain U.S. state tax authorities for the fiscal years ended July 31, 2015 through July 31, 2017. The Company believes it has adequately reserved for its exposure to additional payments for uncertain tax positions in its liability for unrecognized tax benefits. The major tax jurisdictions we file in, with the years still subject to income tax examinations, are listed below: Major Tax Jurisdiction Tax Years Subject to Exam United States – Federal Fiscal 2018 – Fiscal 2020 United States – State Fiscal 2018 – Fiscal 2020 Germany Fiscal 2016 – Fiscal 2019 France Fiscal 2017 – Fiscal 2019 Italy Fiscal 2016 – Fiscal 2020 United Kingdom Fiscal 2020

CONTINGENT LIABILITIES AND COMM

CONTINGENT LIABILITIES AND COMMITMENTS	12 Months Ended
	Jul. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
CONTINGENT LIABILITIES AND COMMITMENTS	CONTINGENT LIABILITIES AND COMMITMENTS The Company is contingently liable under terms of repurchase agreements with financial institutions providing inventory financing for certain independent dealers of certain of its RV products. These arrangements, which are customary in the RV industry, provide for the repurchase of products sold to dealers in the event of default by the dealer on their agreement to pay the financial institution. The repurchase price is generally determined by the original sales price of the product and predefined curtailment arrangements. The Company typically resells the repurchased product at a discount from its repurchase price. The risk of loss from these agreements is spread over numerous dealers. In addition to the guarantee under these repurchase agreements, the Company may also be required to repurchase inventory relative to dealer terminations in certain states in accordance with state laws or regulatory requirements. The repurchase activity related to dealer terminations in certain states has historically been insignificant in relation to our repurchase obligation with financial institutions. The Company’s total commercial commitments under standby repurchase obligations on dealer inventory financing as of July 31, 2021 and July 31, 2020 were $1,821,012 and $1,876,922, respectively. The commitment term is generally up to eighteen months. The Company accounts for the guarantee under repurchase agreements of dealers’ financing by deferring a portion of the related product sale that represents the estimated fair value of the guarantee at inception. The estimated fair value takes into account an estimate of the losses that may be incurred upon resale of any repurchases. This estimate is based on recent historical experience supplemented by the Company’s assessment of current economic and other conditions affecting its dealers. This deferred amount is included in the repurchase and guarantee reserve balances of $6,023 and $7,747 as of July 31, 2021 and July 31, 2020, respectively, which are included in Other current liabilities in the Consolidated Balance Sheets. Losses incurred related to repurchase agreements that were settled in the past three fiscal years were not material. Based on current market conditions, the Company believes that any future losses under these agreements will not have a significant effect on the Company’s consolidated financial position, results of operations or cash flows. The Company is 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. 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	12 Months Ended
	Jul. 31, 2021
Leases [Abstract]
LEASES	LEASES The Company has operating leases primarily for land, buildings and equipment and has various finance leases for certain land and buildings principally 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 fiscal years ended July 31, 2021 and July 31, 2020 were as follows: Fiscal Year Ended July 31, 2021 2020 Operating lease cost $ 18,140 $ 12,580 Finance lease cost Amortization of right-of-use assets 662 544 Interest on lease liabilities 520 531 Total lease cost $ 19,322 $ 13,655 Other information related to leases was as follows: Fiscal Year Ended July 31, Supplemental Cash Flow Information 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 18,054 $ 12,487 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 16,636 $ 4,655 Finance leases $ 4,000 $ — July 31, Supplemental Balance Sheet Information 2021 2020 Operating leases: Operating lease right-of-use assets $ 42,601 $ 33,609 Operating lease liabilities Other current liabilities $ 8,944 $ 5,343 Other long-term liabilities 33,923 28,456 Total operating lease liabilities $ 42,867 $ 33,799 Finance leases: Finance lease right-of-use assets $ 7,010 $ 3,672 Finance lease liabilities Other current liabilities $ 1,081 $ 505 Other long-term liabilities 4,694 4,743 Total finance lease liabilities $ 5,775 $ 5,248 July 31, 2021 2020 Weighted-average remaining lease term Operating leases 11.1 years 13.6 years Finance leases 5.1 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 July 31, 2021 were as follows: Operating Leases Finance Leases For the fiscal year ending July 31, 2022 $ 13,923 $ 1,555 For the fiscal year ending July 31, 2023 10,576 1,578 For the fiscal year ending July 31, 2024 7,763 1,059 For the fiscal year ending July 31, 2025 5,188 1,083 For the fiscal year ending July 31, 2026 3,530 1,107 For the fiscal year ending July 31, 2027 and thereafter 18,267 954 Total future lease payments $ 59,247 $ 7,336 Less: amount representing interest (16,380) (1,561) Total reported lease liability $ 42,867 $ 5,775 Rent expense for the fiscal year ended July 31, 2019 was $8,825.
LEASES	LEASES The Company has operating leases primarily for land, buildings and equipment and has various finance leases for certain land and buildings principally 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 fiscal years ended July 31, 2021 and July 31, 2020 were as follows: Fiscal Year Ended July 31, 2021 2020 Operating lease cost $ 18,140 $ 12,580 Finance lease cost Amortization of right-of-use assets 662 544 Interest on lease liabilities 520 531 Total lease cost $ 19,322 $ 13,655 Other information related to leases was as follows: Fiscal Year Ended July 31, Supplemental Cash Flow Information 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 18,054 $ 12,487 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 16,636 $ 4,655 Finance leases $ 4,000 $ — July 31, Supplemental Balance Sheet Information 2021 2020 Operating leases: Operating lease right-of-use assets $ 42,601 $ 33,609 Operating lease liabilities Other current liabilities $ 8,944 $ 5,343 Other long-term liabilities 33,923 28,456 Total operating lease liabilities $ 42,867 $ 33,799 Finance leases: Finance lease right-of-use assets $ 7,010 $ 3,672 Finance lease liabilities Other current liabilities $ 1,081 $ 505 Other long-term liabilities 4,694 4,743 Total finance lease liabilities $ 5,775 $ 5,248 July 31, 2021 2020 Weighted-average remaining lease term Operating leases 11.1 years 13.6 years Finance leases 5.1 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 July 31, 2021 were as follows: Operating Leases Finance Leases For the fiscal year ending July 31, 2022 $ 13,923 $ 1,555 For the fiscal year ending July 31, 2023 10,576 1,578 For the fiscal year ending July 31, 2024 7,763 1,059 For the fiscal year ending July 31, 2025 5,188 1,083 For the fiscal year ending July 31, 2026 3,530 1,107 For the fiscal year ending July 31, 2027 and thereafter 18,267 954 Total future lease payments $ 59,247 $ 7,336 Less: amount representing interest (16,380) (1,561) Total reported lease liability $ 42,867 $ 5,775 Rent expense for the fiscal year ended July 31, 2019 was $8,825.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Jul. 31, 2021
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY The Board and the shareholders approved the THOR Industries, Inc. 2016 Equity and Incentive Plan (the “2016 Equity and Incentive Plan”). The maximum number of shares issuable under the 2016 Equity and Incentive Plan is 2,000,000. As of July 31, 2021, the remaining shares available to be granted under the 2016 Equity and Incentive Plan is 652,144. Awards may be in the form of options (incentive stock options and non-statutory stock options), restricted stock, restricted stock units, performance compensation awards and stock appreciation rights. Under the Company's program to award restricted stock units (the "RSU program"), the Compensation and Development Committee of the Board generally approves awards each October related to the financial performance of the most recently completed fiscal year. The awarded employee restricted stock units vest, and shares of common stock are issued, in equal installments on the first, second and third anniversaries of the date of grant. In addition, concurrent with the timing of the employee awards, the Nominating and Governance Committee of the Board has awarded restricted stock units to Board members that will vest, and shares of common stock will be issued, on the first anniversary of the date of the grant. The fair value of the employee and Board member restricted stock units is determined using the Company’s stock price on the date of grant. In September 2019, the Board approved an equity compensation program for certain members of the Company’s executive management. Under this program, a portion of their equity compensation is determined based on performance related to targets set for both the Company’s return on invested capital and free cash flow during a multi-year measurement period. These performance stock unit (“PSU”) awards are based on a sliding scale of actual performance against relevant goals within a range of fifty percent (50%) to one hundred fifty percent (150%) of the target. Performance below the fifty percent (50%) threshold results in no earned shares, while performance above the one hundred fifty percent (150%) level results in an award of shares equal to two times the amount of target shares. In deriving the number of shares earned, if any, both performance metrics are weighted equally. Following the measurement period, in accordance with actual achievement and certification of performance metrics, fully vested shares of common stock are issued to the award recipients. The fair value of the PSU awards is determined using the Company’s stock price on the grant date. These awards are equity classified and expensed over the applicable measurement period based on the extent to which achievement of the performance metrics is probable. Total stock-based expense recognized in fiscal 2021, 2020 and 2019 for these RSU and PSU awards totaled $30,514, $19,889 and $18,950, respectively. The fair value of the RSU shares that vested in fiscal 2021, 2020 and 2019 totaled $24,226, $10,906 and $13,227, respectively. A summary of restricted stock unit and performance stock unit activity during fiscal 2021, 2020 and 2019 is included below: 2021 2020 2019 Stock Weighted- Weighted- Stock Weighted- Nonvested, beginning of year 641,410 $ 65.28 451,563 $ 91.08 328,431 $ 101.97 Granted 338,073 81.41 407,151 50.78 310,924 79.12 Vested (255,039) 76.97 (206,624) 92.87 (167,591) 90.23 Forfeited (7,959) 67.90 (10,680) 69.66 (20,201) 91.11 Nonvested, end of year 716,485 $ 68.70 641,410 $ 65.28 451,563 $ 91.08 At July 31, 2021 there was $19,448 of total unrecognized compensation costs related to restricted stock unit and performance stock unit awards that are expected to be recognized over a weighted-average period of 1.81 years. The Company recognized a tax benefit related to total stock-based compensation expense of $3,532, $4,775 and $4,550 in fiscal 2021, 2020 and 2019, respectively.

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Jul. 31, 2021
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION The table below disaggregates revenue to the level that the Company believes best depicts how the nature, amount, timing and uncertainty of the Company’s revenue and cash flows are affected by economic factors. Other RV-related revenues shown below in the European segment include sales related to accessories and services, used vehicle sales at owned dealerships and RV rentals. All material revenue streams are considered point in time. 2021 2020 2019 NET SALES: Recreational vehicles North American Towables Travel Trailers and Other $ 3,791,235 $ 2,449,239 $ 2,710,308 Fifth Wheels 2,430,693 1,691,243 1,848,143 Total North American Towables 6,221,928 4,140,482 4,558,451 North American Motorized Class A 1,052,982 495,520 761,176 Class C 1,266,624 776,191 824,449 Class B 349,785 118,387 63,704 Total North American Motorized 2,669,391 1,390,098 1,649,329 Total North American 8,891,319 5,530,580 6,207,780 European Motorcaravan 1,779,906 1,505,353 960,155 Campervan 779,755 433,398 201,089 Caravan 292,708 273,475 172,144 Other RV-related 347,710 273,165 153,590 Total European 3,200,079 2,485,391 1,486,978 Total recreational vehicles 12,091,398 8,015,971 7,694,758 Other, primarily aluminum extruded components 373,174 234,481 263,374 Intercompany eliminations (147,192) (82,519) (93,374) Total $ 12,317,380 $ 8,167,933 $ 7,864,758

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Jul. 31, 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 OCI (“AOCI”) by component were as follows: 2021 Foreign Currency Unrealized Other AOCI, net of tax, Attributable to THOR Non-controlling Interests Total AOCI Balance at beginning of period, net of tax $ 46,512 $ (18,823) $ (696) $ 26,993 $ (855) $ 26,138 OCI before reclassifications 7,640 (1,100) (180) 6,360 83 6,443 Income taxes associated with OCI before reclassifications (1) — 327 — 327 — 327 Amounts reclassified from AOCI — 14,433 — 14,433 — 14,433 Income taxes associated with amounts reclassified from AOCI — (3,492) — (3,492) — (3,492) OCI, net of tax for the fiscal year 7,640 10,168 (180) 17,628 83 17,711 AOCI, net of tax $ 54,152 $ (8,655) $ (876) $ 44,621 $ (772) $ 43,849 2020 Foreign Currency Unrealized Other AOCI, net of tax, Attributable to THOR Non-controlling Interests Total AOCI Balance at beginning of period, net of tax $ (46,484) $ (9,472) $ (1,048) $ (57,004) $ (594) $ (57,598) OCI before reclassifications 92,996 (20,557) 352 72,791 (261) 72,530 Income taxes associated with OCI before reclassifications (1) — 4,906 — 4,906 — 4,906 Amounts reclassified from AOCI — 8,180 — 8,180 — 8,180 Income taxes associated with amounts reclassified from AOCI — (1,880) — (1,880) — (1,880) OCI, net of tax for the fiscal year 92,996 (9,351) 352 83,997 (261) 83,736 AOCI, net of tax $ 46,512 $ (18,823) $ (696) $ 26,993 $ (855) $ 26,138 2019 Foreign Currency Unrealized Other AOCI, net of tax, Attributable to THOR Non-controlling Interests Total AOCI Balance at beginning of period, net of tax $ — $ — $ — $ — $ — $ — OCI before reclassifications (44,090) (12,184) (1,048) (57,322) (594) (57,916) Income taxes associated with OCI before reclassifications (1) (2,394) 2,917 — 523 — 523 Amounts reclassified from AOCI — (279) — (279) — (279) Income taxes associated with amounts reclassified from AOCI — 74 — 74 — 74 AOCI, net of tax $ (46,484) $ (9,472) $ (1,048) $ (57,004) $ (594) $ (57,598) (1) We do not recognize deferred taxes for a majority of the foreign currency translation gains and losses because we do not anticipate reversal in the foreseeable future.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jul. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On September 1, 2021, the Company announced it completed the acquisition of Wichita, Kansas-based AirX Intermediate, Inc. ("Airxcel"). Airxcel manufactures a comprehensive line of high-quality RV products which they sell to original equipment manufacturers as well as consumers via aftermarket sales through dealers and retailers. Airxcel provides industry-leading products in recreational vehicle heating, cooling, ventilation, cooking, window coverings, sidewalls and roofing materials, among others. The purchase price of $750,000 in cash is subject to standard post-closing adjustments, and was funded through a combination of cash-on-hand and $625,000 from the Company's ABL. In conjunction with the Airxcel acquisition, the Company expanded its existing ABL facility from $750,000 to $1,000,000, favorably amended certain terms of the agreement and extended the term of the ABL from February 1, 2024 to September 1, 2026. The interest rate remains unchanged. The Company acquired Airxcel as part of its long-term, strategic growth plan and the acquisition is expected to provide numerous benefits, including strengthening its supply chain, diversifying its revenue sources and expanding opportunities to enter new product segments. Airxcel will operate as an independent operation in the same manner as the Company's other subsidiaries. Due to the recent timing of the close of the acquisition, the Company has not yet allocated the purchase price to the fair value of the assets acquired and the liabilities assumed at the acquisition date.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jul. 31, 2021
Accounting Policies [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 by units sold and revenue. 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 Company’s business activities are primarily comprised of three distinct operations, which include the design, manufacture and sale of North American towable recreational vehicles, North American motorized recreational vehicles and European recreational vehicles, with the European vehicles including both towable and motorized products as well as other RV-related products and services. Accordingly, the Company has presented financial information for these three segments in Note 3 to the Consolidated Financial Statements.
Principles of Consolidation	Principles of Consolidation – The accompanying Consolidated Financial Statements include the accounts of THOR Industries, Inc. and its subsidiaries. The Company consolidates all majority-owned subsidiaries, and all intercompany balances and transactions are eliminated upon consolidation. The results of any companies acquired during a year are included in the consolidated financial statements for the applicable year from the effective date of the acquisition.
Estimates	Estimates – The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Key estimates include the valuation of acquired assets and liabilities, reserves for inventory, incurred but not reported medical claims, warranty claims, workers’ compensation claims, vehicle repurchases, uncertain tax positions, product and non-product litigation and assumptions made in asset impairment assessments. The Company bases its estimates on historical experience and on various other assumptions believed to be reasonable under the circumstances. The Company believes that such estimates are made using consistent and appropriate methods. Actual results could differ from these estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents – Interest-bearing deposits and other investments with maturities of three months or less when purchased are considered cash equivalents. At July 31, 2021 and July 31, 2020, cash and cash equivalents of $260,101 and $260,876, respectively, were held by one U.S. financial institution. In addition, at July 31, 2021 and July 31, 2020, the equivalent of $111,215 and $174,077, respectively, was held in Euros at one European financial institution and $27,926 and $49,732, respectively, was held in Euros by a different European financial institution.
Derivatives	Derivatives – The Company uses derivative financial instruments to manage its risk related to changes in foreign currency exchange rates and interest rates. The Company does not hold derivative financial instruments of a speculative nature or for trading purposes. The Company records all derivatives on the Consolidated Balance Sheet at fair value using available market information and other observable data.
Fair Value of Financial Instruments	Fair Value of Financial Instruments – The fair value of long-term debt is discussed in Note 12 to the Consolidated Financial Statements.
Inventories	Inventories – Inventories are determined on the first-in, first-out (“FIFO”) basis, with the remainder on the last-in, first-out (“LIFO”) basis. Inventories are stated at the lower of cost or net realizable value, except for inventories determined based on LIFO, which are stated at the lower of cost or market value. Manufacturing costs included in inventory include materials, labor, freight-in and manufacturing overhead. Unallocated overhead and abnormal costs are expensed as incurred.
Depreciation	Depreciation – Property, plant and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the assets as follows: Buildings and improvements – 10 to 39 years Machinery and equipment – 3 to 10 years Rental vehicles – 6 years
Business Combinations	Business Combinations – The Company accounts for the acquisition of a business using the acquisition method of accounting. Assets acquired and liabilities assumed, including amounts attributed to noncontrolling interests, are recorded at the acquisition date at their fair values. Assigning fair values requires the Company to make significant estimates and assumptions regarding the fair value of identifiable intangible assets, property, plant and equipment, deferred tax asset valuation allowances, and liabilities, such as uncertain tax positions and contingencies. The Company may refine these estimates if necessary over a period not to exceed one year by taking into consideration new information that, if known at the acquisition date, would have affected the fair values ascribed to the assets acquired and liabilities assumed.
Goodwill	Goodwill – Goodwill results from the excess of purchase price over the net assets of an acquired business. The Company's reporting units are generally the same as its operating segments, which are identified in Note 3 to the Consolidated Financial Statements. Goodwill is not amortized but is tested for impairment annually as of May 31 of each fiscal year and whenever events or changes in circumstances indicate that an impairment may have occurred. If the carrying amount of a reporting unit exceeds its fair value, an impairment charge equal to that excess is recognized, not to exceed the amount of goodwill allocated to the reporting unit.
Long-lived and Intangible Assets	Long-lived and Intangible Assets – Property, plant and equipment and identifiable intangibles that are amortized are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable from future cash flows. If the carrying value of a long-lived asset is impaired, an impairment charge is recorded for the amount by which the carrying value of the long-lived asset exceeds its fair value. Intangible assets consist of trademarks, dealer networks/customer relationships, design technology, backlog and non-compete agreements. Trademarks are amortized on a straight-line basis over 15 to 25 years. Dealer networks/customer relationships are amortized on an accelerated basis over 12 to 20 years, with amortization beginning after backlog amortization is completed, if applicable. Design technology and non-compete agreements are amortized using the straight-line method over 2 to 15 years. Backlog is amortized using a straight-line basis over the associated fulfillment period, typically nine months or less.
Product Warranties	Product Warranties – Estimated warranty costs are provided at the time of sale of the related products.
Factored Accounts Receivable	Factored Accounts Receivable – Factored accounts receivable are receivables from sales to independent dealer customers of our European operations that have been sold to third-party finance companies that provide financing to those dealers. Certain of these sold receivables, which are subject to recourse and in which the Company retains an interest as a secured obligation, do not meet the definition of a true-sale, and were therefore recorded as an asset with an offsetting balance recorded as a secured obligation in Liabilities related to factored receivables on the Consolidated Balance Sheets. During the fourth quarter of fiscal year 2021, the Company entered into revised agreements with certain of the third-party financing companies. These revised terms meet the applicable true-sale criteria under ASC 860 and therefore only those arrangements not meeting the applicable true-sale criteria remain as factored accounts receivable on the Consolidated Balance Sheet.
Insurance Reserves	Insurance Reserves – Generally, the Company is self-insured for workers’ compensation, products liability and group medical insurance. Upon the exhaustion of the applicable deductibles or retentions, the Company maintains insurance coverage. Under these plans, liabilities are recognized for claims incurred, including those incurred but not reported. The liability for workers’ compensation claims is determined by the Company with the assistance of a third-party administrator and actuary using various state statutes and historical claims experience. Group medical reserves are estimated using historical claims experience. The Company has established a liability for product liability and personal injury occurrences based on historical data, known cases and actuarial information.
Revenue Recognition	Revenue Recognition – Revenue is recognized as performance obligations under the terms of contracts with customers are satisfied. The Company’s recreational vehicle and extruded aluminum contracts have a single performance obligation of providing the promised goods (recreational vehicles and extruded aluminum components), which is satisfied when control of the goods is transferred to the customer. Revenue from the sales of extruded aluminum components is generally recognized upon delivery to the customer’s location. The Company’s European recreational vehicle reportable segment includes vehicle sales to third party dealers as well as sales of new and used vehicles to end customers through our owned and operated dealership network of two dealerships. For recreational vehicle sales, the Company recognizes revenue when its performance obligation has been satisfied and control of the product is transferred to the dealer, which generally aligns with shipping terms. Shipping terms vary depending on regional contracting practices. U.S. customers primarily contract under FOB shipping point terms. European customers generally contract on ExWorks (“EXW”) incoterms (meaning the seller fulfills its obligation to deliver when it makes goods available at its premises, or another specified location, for the buyer to collect). Under EXW incoterms, the performance obligation is satisfied and control is transferred at the point when the customer is notified that the vehicle is available for pickup. Customers do not have a right of return. All warranties provided are assurance-type warranties. In addition to recreational vehicle sales, the Company’s European recreational vehicle reportable segment sells accessory items and provides repair services through our two owned dealerships. Each ordered item represents a distinct performance obligation satisfied when control of the good is transferred to the customer. Service and repair contracts with customers are short term in nature and are recognized when the service is complete. Revenue is measured as the amount of consideration to which the Company expects to be entitled in exchange for the Company’s products and services. The amount of revenue recognized includes adjustments for any variable consideration, such as sales discounts, sales allowances, promotions, rebates and other sales incentives which are included in the transaction price and allocated to each performance obligation based on the standalone selling price. The Company estimates variable consideration based on the expected value of total consideration to which customers are likely to be entitled to based primarily on historical experience and current market conditions. Included in the estimate is an assessment as to whether any variable consideration is constrained. Revenue estimates are adjusted at the earlier of a change in the expected value of consideration or when the consideration becomes fixed. During fiscal 2021 and fiscal 2020, adjustments to revenue from performance obligations satisfied in prior periods, which relate primarily to changes in estimated variable consideration, were immaterial. Amounts billed to customers related to shipping and handling activities are included in net sales. The Company has elected to account for shipping and handling costs as fulfillment activities, and these costs are included in cost of sales. We do not disclose information about the transaction price allocated to the remaining performance obligations at period end because our contracts generally have original expected durations of one year or less. In addition, we expense when incurred contract acquisition costs, primarily sales commissions, because the amortization period, which is aligned with the contract term, is one year or less.
Advertising Costs	Advertising Costs – Advertising costs, which consist primarily of trade shows, are expensed as incurred
Foreign Currency	Foreign Currency – The financial statements of the Company’s foreign operations with a functional currency other than the U.S. dollar are translated into U.S. dollars using the exchange rate at each balance sheet date for assets and liabilities, and, for revenues and expenses, the weighted-average exchange rate for each applicable period, and the resulting translation adjustments are recorded in Accumulated Other Comprehensive Income (Loss), net of tax. Transaction gains and losses from foreign currency exchange rate changes are recorded in Other income (expense), net in the Consolidated Statements of Income and Comprehensive Income.
Repurchase Agreements	Repurchase Agreements – The Company is contingently liable under terms of repurchase agreements with financial institutions providing inventory financing for certain independent domestic and foreign dealers of certain of its RV products.
Income Taxes	Income Taxes – The objectives of accounting for income taxes are to recognize the amount of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in our financial statements or tax returns. Judgment is required in assessing the future tax consequences of events that have been recognized in our financial statements or tax returns. The actual outcome of these future tax consequences could differ from our estimates and have a material impact on our financial position or results of operations. The Company recognizes liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step requires the Company to estimate and measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. It is inherently difficult and subjective to estimate such amounts, as the Company has to determine the probability of various possible outcomes. The Company reevaluates these uncertain tax positions on a quarterly basis. This evaluation is based on factors including, but not limited to, changes in facts or circumstances, changes in tax law, effectively settled issues under audit, voluntary settlements and new audit activity. Such a change in recognition or measurement would result in the recognition of a tax benefit or an additional charge to the tax provision.
Research and Development	Research and Development – Research and development costs are expensed when incurred
Stock-Based Compensation	Stock-Based Compensation – The Company records compensation expense based on the fair value of stock-based awards, including restricted stock and performance stock units, on a straight-line basis over the requisite service period, which is generally three years. Stock-based compensation expense is recorded net of estimated forfeitures, which is based on historical forfeiture rates over the vesting period of employee awards.
Earnings Per Share	Earnings Per Share – Basic earnings per common share (“EPS”) is computed by dividing net income attributable to THOR Industries, Inc. by the weighted-average number of common shares outstanding. Diluted EPS is computed by dividing net income attributable to THOR Industries, Inc. by the weighted-average number of common shares outstanding assuming dilution. The difference between basic EPS and diluted EPS is the result of unvested restricted stock units and performance stock units as follows: 2021 2020 2019 Weighted-average shares outstanding for basic earnings per share 55,333,959 55,172,694 53,905,667 Unvested restricted stock units and performance stock units 353,294 224,682 121,019 Weighted-average shares outstanding assuming dilution 55,687,253 55,397,376 54,026,686 The Company excluded 233,395 unvested restricted stock units and performance stock units that have an antidilutive effect from its calculation of weighted-average shares outstanding assuming dilution at July 31, 2019. Antidilutive unvested restricted stock units and performance stock units excluded from the July 31, 2021 and July 31, 2020 calculations were not material.
Accounting Pronouncements	Accounting Pronouncements Recently Adopted Accounting Standards In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting,” which provides optional expedients and exceptions for applying generally accepted accounting principles (GAAP) to contracts, hedging relationships, and other transactions affected by reference rate reform, if certain criteria are met. The optional expedients and exceptions are available for all entities as of March 12, 2020, through December 31, 2022. The Company adopted ASU 2020-04, effective March 12, 2020. While there was no impact to the Company’s consolidated financial statements at the time of adoption, the impact of this ASU will ultimately depend on the terms of any future contract modification related to a change in reference rate, including potential future modifications to the Company’s debt facilities and cash flow hedges. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment," which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge (referred to as Step 2 in the goodwill impairment test). Instead, if the carrying amount of a reporting unit exceeds its fair value, an impairment charge equal to that excess shall be recognized, not to exceed the amount of goodwill allocated to the reporting unit. This ASU is effective for annual and any interim impairment tests for periods beginning after December 15, 2019. This ASU became effective for, and was adopted by, the Company in its fiscal year 2021 beginning on August 1, 2020. The impact of this ASU on the Company's consolidated financial statements will depend on the outcomes of future goodwill impairment tests.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Jul. 31, 2021
Accounting Policies [Abstract]
Schedule of Difference Between Basic and Diluted EPS as a Result of Unvested Restricted Stock Units and Performance Stock Units	The difference between basic EPS and diluted EPS is the result of unvested restricted stock units and performance stock units as follows: 2021 2020 2019 Weighted-average shares outstanding for basic earnings per share 55,333,959 55,172,694 53,905,667 Unvested restricted stock units and performance stock units 353,294 224,682 121,019 Weighted-average shares outstanding assuming dilution 55,687,253 55,397,376 54,026,686

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Jul. 31, 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 the fair value analysis, but this analysis has not been fully completed. The provisional amounts included below, 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 65,064 Current liabilities (81,423) Deferred income tax liabilities (37,263) 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 During the fiscal quarter ended July 31, 2020, the Company made immaterial measurement period adjustments primarily to deferred income taxes and goodwill to better reflect the facts and circumstances that existed at the 2020 Agreement effective date. The table below summarizes the final fair value of 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 The following table summarizes the final fair values of the EHG assets acquired and liabilities assumed as of the acquisition date. Cash $ 97,887 Inventory 593,053 Other assets 435,747 Property, plant and equipment, rental vehicles 80,132 Property, plant and equipment 437,216 Amortizable intangible assets: Dealer network 355,601 Trademarks 126,181 Technology assets 183,536 Backlog 11,471 Goodwill 1,009,754 Guarantee liabilities related to former EHG North American subsidiaries (115,668) Other current liabilities (851,774) Debt – Unsecured notes (114,710) Debt – Other (166,196) Deferred income tax liabilities (152,186) Other long-term liabilities (17,205) Non-controlling interests (12,207) Total fair value of net assets acquired 1,900,632 Less: cash acquired (97,887) Total fair value of net assets acquired, less cash acquired $ 1,802,745
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, the fiscal 2020 acquisition of the Togo Group had occurred at the beginning of fiscal 2019 and the fiscal 2019 acquisition of EHG had occurred at the beginning of fiscal 2018. The disclosure of pro forma net sales and earnings does not purport to indicate the results that would actually have been obtained had the acquisition been completed on the assumed date for the periods presented, or which may be realized in the future. The unaudited pro forma information does not reflect any operating efficiencies or cost savings that may be realized from the integration of the acquisition. Fiscal 2021 Fiscal 2020 Fiscal 2019 Net sales $ 12,581,282 $ 8,870,746 $ 9,067,750 Net income $ 667,308 $ 223,861 $ 136,831 Basic earnings per common share $ 12.06 $ 4.06 $ 2.54 Diluted earnings per common share $ 11.98 $ 4.04 $ 2.53

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	12 Months Ended
	Jul. 31, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information by Segment	2021 2020 2019 NET SALES: Recreational vehicles North American Towables $ 6,221,928 $ 4,140,482 $ 4,558,451 North American Motorized 2,669,391 1,390,098 1,649,329 Total North America 8,891,319 5,530,580 6,207,780 European 3,200,079 2,485,391 1,486,978 Total recreational vehicles 12,091,398 8,015,971 7,694,758 Other 373,174 234,481 263,374 Intercompany eliminations (147,192) (82,519) (93,374) Total $ 12,317,380 $ 8,167,933 $ 7,864,758 INCOME (LOSS) BEFORE INCOME TAXES: Recreational vehicles North American Towables $ 658,964 $ 336,207 $ 322,228 North American Motorized 202,057 71,943 80,910 Total North America 861,021 408,150 403,138 European 116,576 9,850 (5,946) Total recreational vehicles 977,597 418,000 397,192 Other, net 57,674 27,751 29,086 Corporate (190,690) (172,855) (241,612) Total $ 844,581 $ 272,896 $ 184,666 2021 2020 TOTAL ASSETS: Recreational vehicles North American Towables $ 1,870,577 $ 1,529,913 North American Motorized 1,073,506 480,225 Total North America 2,944,083 2,010,138 European 2,975,821 3,102,071 Total recreational vehicles 5,919,904 5,112,209 Other, net 272,350 212,378 Corporate 461,834 446,873 Total $ 6,654,088 $ 5,771,460 2021 2020 2019 DEPRECIATION AND INTANGIBLE ASSET AMORTIZATION EXPENSE: Recreational vehicles North American Towables $ 66,078 $ 66,042 $ 67,751 North American Motorized 23,153 14,202 13,831 Total North America 89,231 80,244 81,582 European 127,432 103,671 54,881 Total recreational vehicles 216,663 183,915 136,463 Other, net 12,220 10,488 10,647 Corporate 1,698 1,764 1,667 Total $ 230,581 $ 196,167 $ 148,777 CAPITAL ACQUISITIONS: Recreational vehicles North American Towables $ 35,816 $ 27,219 $ 69,321 North American Motorized 22,230 12,603 17,179 Total North America 58,046 39,822 86,500 European 66,930 62,165 35,653 Total recreational vehicles 124,976 101,987 122,153 Other, net 5,620 2,664 3,493 Corporate 1,085 1,172 1,599 Total $ 131,681 $ 105,823 $ 127,245 DESTINATION OF NET SALES BY GEOGRAPHIC REGION: United States $ 8,462,652 $ 5,296,482 $ 5,803,373 Germany 1,977,808 1,494,419 836,151 Other Europe 1,189,747 966,023 636,105 Canada 638,118 377,053 561,172 Other foreign 49,055 33,956 27,957 Total $ 12,317,380 $ 8,167,933 $ 7,864,758 2021 2020 PROPERTY, PLANT AND EQUIPMENT BY GEOGRAPHIC REGION: United States $ 626,375 $ 564,171 Germany 460,446 444,981 Other Europe 95,266 93,220 Other 3,044 5,277 Total $ 1,185,131 $ 1,107,649

DERIVATIVES AND HEDGING (Tables

DERIVATIVES AND HEDGING (Tables)	12 Months Ended
	Jul. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The fair value of our derivative instruments designated as cash flow hedges and the associated notional amounts, presented on a pre-tax basis, were as follows: July 31, 2021 July 31, 2020 Cash Flow Hedges Notional Fair Value in Notional Fair Value in Foreign currency forward contracts $ 41,899 $ 88 $ — $ — Interest rate swap agreements 482,138 11,420 673,400 24,840 Total derivative financial instruments $ 524,037 $ 11,508 $ 673,400 $ 24,840
Derivative Instruments, Gain (Loss)	The total amounts presented in the Consolidated Statements of Income and Comprehensive Income due to changes in the fair value of the following derivative instruments for the fiscal years ended July 31, 2021, 2020 and 2019 are as follows: 2021 2020 2019 Gain (Loss) on Derivatives Designated as Cash Flow Hedges Gain (loss) recognized in Other comprehensive income (loss), net of tax Foreign currency forward contracts $ (63) $ — $ 129 Interest rate swap agreements (1) 10,231 (9,351) (9,396) Total gain (loss) $ 10,168 $ (9,351) $ (9,267) (1) Other comprehensive income (loss), net of tax, before reclassification from AOCI was $340, $(15,265) and $(9,320) for fiscal years 2021, 2020 and 2019, respectively. 2021 Sales Interest Gain (Loss) Reclassified from AOCI, Net of Tax Foreign currency forward contracts $ (1,050) $ — Interest rate swap agreements — (9,891) Gain (Loss) on Derivatives Not Designated as Hedging Instruments Amount of gain (loss) recognized in income, net of tax Interest rate swap agreements — (85) Total gain (loss) $ (1,050) $ (9,976) 2020 Sales Interest Gain (Loss) Reclassified from AOCI, Net of Tax Foreign currency forward contracts $ (386) $ — Interest rate swap agreements — (5,914) Gain (Loss) on Derivatives Not Designated as Hedging Instruments Amount of gain (loss) recognized in income, net of tax Interest rate swap agreements — (376) Total gain (loss) $ (386) $ (6,290) 2019 Sales Acquisition-Related Costs Interest Gain (Loss) Reclassified from AOCI, Net of Tax Foreign currency forward contracts $ 129 $ — $ — Interest rate swap agreements — — 76 Gain (Loss) on Derivatives Not Designated as Hedging Instruments Amount of gain (loss) recognized in income, net of tax Foreign currency forward contracts — (70,777) — Interest rate swap agreements — — (438) Total gain (loss) $ 129 $ (70,777) $ (362)

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Jul. 31, 2021
Inventory Disclosure [Abstract]
Schedule of Major Classifications of Inventories	Major classifications of inventories are as follows: July 31, 2021 July 31, 2020 Finished goods—RV $ 114,843 $ 152,297 Finished goods—other 57,810 44,779 Work in process 376,594 128,181 Raw materials 602,106 302,813 Chassis 292,921 135,194 Subtotal 1,444,274 763,264 Excess of FIFO costs over LIFO costs (74,890) (46,959) Total inventories, net $ 1,369,384 $ 716,305

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Jul. 31, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consists of the following: July 31, 2021 July 31, 2020 Land $ 142,746 $ 136,200 Buildings and improvements 837,065 760,986 Machinery and equipment 523,714 438,985 Rental vehicles 75,449 83,534 Lease right-of-use assets – operating 42,601 33,609 Lease right-of-use assets – finance 7,010 3,672 Total cost 1,628,585 1,456,986 Less accumulated depreciation (443,454) (349,337) Property, plant and equipment, net $ 1,185,131 $ 1,107,649

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	12 Months Ended
	Jul. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Components of Amortizable Intangible Assets	The components of amortizable intangible assets are as follows: July 31, 2021 July 31, 2020 Cost Accumulated Cost Accumulated Dealer networks/customer relationships $ 861,562 $ 327,751 $ 766,198 $ 252,320 Trademarks 311,208 62,675 275,775 47,743 Design technology and other intangibles 215,956 62,237 213,468 40,654 Non-compete agreements 1,400 292 — — Total amortizable intangible assets $ 1,390,126 $ 452,955 $ 1,255,441 $ 340,717
Estimated Amortization Expense	Estimated annual amortization expense is as follows: For the fiscal year ending July 31, 2022 $ 124,151 For the fiscal year ending July 31, 2023 105,779 For the fiscal year ending July 31, 2024 95,960 For the fiscal year ending July 31, 2025 87,817 For the fiscal year ending July 31, 2026 79,049 For the fiscal year ending July 31, 2027 and thereafter 444,415 $ 937,171
Changes in Carrying Amount of Goodwill by Reportable Segment	Changes in the carrying amount of goodwill by reportable segment as of July 31, 2021 and July 31, 2020 are summarized as follows: North North European Other Total Net balance as of July 31, 2019 $ 334,822 $ — $ 980,339 $ 42,871 $ 1,358,032 Fiscal year 2020 activity: Goodwill acquired — — — 62,366 62,366 Measurement period adjustment — — 1,282 (411) 871 Foreign currency translation and other — — 56,308 — 56,308 Impairment charge (1,036) (1,036) Net balance as of July 31, 2020 $ 333,786 $ — $ 1,037,929 $ 104,826 $ 1,476,541 Fiscal year 2021 activity: Goodwill acquired 18,845 43,491 — 17,882 80,218 Measurement period adjustment (7,656) 10,384 — — 2,728 Foreign currency translation and other — — 3,768 — 3,768 Net balance as of July 31, 2021 $ 344,975 $ 53,875 $ 1,041,697 $ 122,708 $ 1,563,255 The components of the goodwill balances as of July 31, 2021 and July 31, 2020 are summarized as follows: North North European Other Total Goodwill $ 355,124 $ 71,127 $ 1,041,697 $ 122,708 $ 1,590,656 Accumulated impairment charges (10,149) (17,252) — — (27,401) Net balance as of July 31, 2021 $ 344,975 $ 53,875 $ 1,041,697 $ 122,708 $ 1,563,255 North North European Other Total Goodwill $ 343,935 $ 17,252 $ 1,037,929 $ 104,826 $ 1,503,942 Accumulated impairment charges (10,149) (17,252) — — (27,401) Net balance as of July 31, 2020 $ 333,786 $ — $ 1,037,929 $ 104,826 $ 1,476,541

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Jul. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets Measured on Recurring Basis	The financial assets and liabilities that were accounted for at fair value on a recurring basis at July 31, 2021 and July 31, 2020 are as follows: Input Level July 31, 2021 July 31, 2020 Cash equivalents Level 1 $ 204 $ 227,154 Deferred compensation plan mutual fund assets Level 1 $ 51,085 $ 47,327 Deferred compensation plan liabilities Level 1 $ 84,588 $ 61,290 Foreign currency forward contract liability Level 2 $ 88 $ — Interest rate swap liabilities Level 2 $ 13,369 $ 26,664

PRODUCT WARRANTY (Tables)

PRODUCT WARRANTY (Tables)	12 Months Ended
	Jul. 31, 2021
Guarantees and Product Warranties [Abstract]
Schedule of Changes in Product Warranty Liabilities	Changes in our product warranty liabilities during the indicated periods are as follows: 2021 2020 2019 Beginning balance $ 252,869 $ 289,679 $ 264,928 Provision 261,851 198,873 233,927 Payments (258,624) (238,590) (251,071) Acquisition 11,032 — 43,329 Foreign currency translation 492 2,907 (1,434) Ending balance $ 267,620 $ 252,869 $ 289,679

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
	Jul. 31, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The components of long-term debt are as follows: July 31, 2021 July 31, 2020 Term loan $ 1,540,013 $ 1,597,091 Unsecured notes 29,728 29,620 Other debt 70,952 84,500 Total long-term debt 1,640,693 1,711,211 Debt issuance costs, net of amortization (33,461) (44,563) Total long-term debt, net of debt issuance costs 1,607,232 1,666,648 Less: current portion of long-term debt (12,411) (13,817) Total long-term debt, net, less current portion $ 1,594,821 $ 1,652,831
Schedule of Maturities of Long-term Debt	Total contractual debt maturities are as follows: For the fiscal year ending July 31, 2022 $ 12,411 For the fiscal year ending July 31, 2023 12,194 For the fiscal year ending July 31, 2024 12,321 For the fiscal year ending July 31, 2025 35,979 For the fiscal year ending July 31, 2026 1,543,267 For the fiscal year ending July 31, 2027 and thereafter 24,521 $ 1,640,693

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jul. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	The sources of earnings before income taxes are as follows: For the Fiscal Year Ended July 31, 2021 2020 2019 United States $ 725,262 $ 258,483 $ 200,859 Foreign 119,319 14,413 (16,193) Total $ 844,581 $ 272,896 $ 184,666
Schedule of Components of Provision (Benefit) for Income Taxes	The components of the provision for income taxes are as follows: For the Fiscal Year Ended July 31, Income Taxes: 2021 2020 2019 U.S. Federal $ 148,706 $ 49,494 $ 48,757 U.S. state and local 26,344 9,891 5,921 Foreign 17,571 1,842 6,611 Total current expense 192,621 61,227 61,289 U.S. Federal 162 6,472 10,862 U.S. state and local (365) (197) (36) Foreign (8,707) (15,990) (19,914) Total deferred expense (benefit) (8,910) (9,715) (9,088) Total income tax expense $ 183,711 $ 51,512 $ 52,201
Schedule of Differences Between Income Tax Expense at Federal Statutory Rate and Actual Income Taxes	The differences between income tax expense at the federal statutory rate and the actual income tax expense are as follows: For the Fiscal Year Ended July 31, 2021 2020 2019 Provision at federal statutory rate $ 177,362 $ 57,308 $ 38,779 Differences between U.S. federal statutory and foreign tax rates (16,857) (50,898) 1,478 Foreign currency remeasurement (gains) losses 1,595 30,246 (12,942) U.S. state and local income taxes, net of federal benefit 20,407 7,616 4,642 Nondeductible compensation 6,418 2,249 2,401 Nondeductible acquisition costs — — 3,031 Nondeductible foreign currency forward contract loss on acquisition — — 14,863 Federal income tax credits and incentives (3,530) (1,738) (3,373) Change in uncertain tax positions 1,209 1,101 1,279 Other (2,893) 5,628 2,043 Total income tax expense $ 183,711 $ 51,512 $ 52,201
Schedule of Deferred Income Tax Balances	A summary of the deferred income tax balances is as follows: July 31, 2021 2020 Deferred income tax asset (liability): Inventory basis $ 3,158 $ 1,000 Employee benefits 10,485 7,353 Self-insurance reserves 6,949 4,923 Accrued product warranties 53,258 53,586 Accrued incentives 4,403 4,316 Sales returns and allowances 934 1,027 Accrued expenses 7,496 6,733 Property, plant and equipment (36,662) (28,438) Operating leases 10,615 9,110 Deferred compensation 19,260 15,876 Intangibles (173,360) (147,423) Net operating loss and other carryforwards 38,669 32,877 Unrealized loss 609 4,892 Unrecognized tax benefits 3,946 3,046 Other (4,949) 4,558 Valuation allowance (17,193) (18,500) Deferred income tax (liability), net $ (72,382) $ (45,064)
Schedule of Changes in Unrecognized Tax Benefit	Changes in the unrecognized tax benefit during fiscal years 2021, 2020 and 2019 were as follows: 2021 2020 2019 Beginning balance $ 14,238 $ 13,848 $ 13,004 Tax positions related to prior years: Additions 72 73 — Reductions (277) (129) (263) Tax positions related to current year: Additions 4,346 1,966 2,062 Settlements (3,363) — (773) Lapses in statute of limitations (2,701) (1,520) (918) Tax positions acquired 4,710 — 736 Ending balance $ 17,025 $ 14,238 $ 13,848
Components of Total Unrecognized Tax Benefits	The components of total unrecognized tax benefits are summarized as follows: July 31, 2021 2020 Unrecognized tax benefits $ 17,025 $ 14,238 Reduction to unrecognized tax benefits which offset tax credit and loss carryforwards (725) (809) Accrued interest and penalties 2,967 2,516 Total unrecognized tax benefits $ 19,267 $ 15,945 Short-term, included in “Income and other taxes” $ 3,423 $ 3,180 Long-term 15,844 12,765 Total unrecognized tax benefits $ 19,267 $ 15,945
Summary of Income Tax Examinations	The major tax jurisdictions we file in, with the years still subject to income tax examinations, are listed below: Major Tax Jurisdiction Tax Years Subject to Exam United States – Federal Fiscal 2018 – Fiscal 2020 United States – State Fiscal 2018 – Fiscal 2020 Germany Fiscal 2016 – Fiscal 2019 France Fiscal 2017 – Fiscal 2019 Italy Fiscal 2016 – Fiscal 2020 United Kingdom Fiscal 2020

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Jul. 31, 2021
Leases [Abstract]
Components of Lease Costs	The components of lease costs for the fiscal years ended July 31, 2021 and July 31, 2020 were as follows: Fiscal Year Ended July 31, 2021 2020 Operating lease cost $ 18,140 $ 12,580 Finance lease cost Amortization of right-of-use assets 662 544 Interest on lease liabilities 520 531 Total lease cost $ 19,322 $ 13,655 Other information related to leases was as follows: Fiscal Year Ended July 31, Supplemental Cash Flow Information 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 18,054 $ 12,487 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 16,636 $ 4,655 Finance leases $ 4,000 $ — July 31, Supplemental Balance Sheet Information 2021 2020 Operating leases: Operating lease right-of-use assets $ 42,601 $ 33,609 Operating lease liabilities Other current liabilities $ 8,944 $ 5,343 Other long-term liabilities 33,923 28,456 Total operating lease liabilities $ 42,867 $ 33,799 Finance leases: Finance lease right-of-use assets $ 7,010 $ 3,672 Finance lease liabilities Other current liabilities $ 1,081 $ 505 Other long-term liabilities 4,694 4,743 Total finance lease liabilities $ 5,775 $ 5,248 July 31, 2021 2020 Weighted-average remaining lease term Operating leases 11.1 years 13.6 years Finance leases 5.1 years 6.8 years Weighted-average discount rate Operating leases 3.2 % 3.4 % Finance leases 8.9 % 9.7 %
Finance Lease, Liability, Maturity	Future minimum rental payments required under operating and finance leases as of July 31, 2021 were as follows: Operating Leases Finance Leases For the fiscal year ending July 31, 2022 $ 13,923 $ 1,555 For the fiscal year ending July 31, 2023 10,576 1,578 For the fiscal year ending July 31, 2024 7,763 1,059 For the fiscal year ending July 31, 2025 5,188 1,083 For the fiscal year ending July 31, 2026 3,530 1,107 For the fiscal year ending July 31, 2027 and thereafter 18,267 954 Total future lease payments $ 59,247 $ 7,336 Less: amount representing interest (16,380) (1,561) Total reported lease liability $ 42,867 $ 5,775
Lessee, Operating Lease, Liability, Maturity	Future minimum rental payments required under operating and finance leases as of July 31, 2021 were as follows: Operating Leases Finance Leases For the fiscal year ending July 31, 2022 $ 13,923 $ 1,555 For the fiscal year ending July 31, 2023 10,576 1,578 For the fiscal year ending July 31, 2024 7,763 1,059 For the fiscal year ending July 31, 2025 5,188 1,083 For the fiscal year ending July 31, 2026 3,530 1,107 For the fiscal year ending July 31, 2027 and thereafter 18,267 954 Total future lease payments $ 59,247 $ 7,336 Less: amount representing interest (16,380) (1,561) Total reported lease liability $ 42,867 $ 5,775

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Jul. 31, 2021
Equity [Abstract]
Summary of Restricted Stock Unit Activity	A summary of restricted stock unit and performance stock unit activity during fiscal 2021, 2020 and 2019 is included below: 2021 2020 2019 Stock Weighted- Weighted- Stock Weighted- Nonvested, beginning of year 641,410 $ 65.28 451,563 $ 91.08 328,431 $ 101.97 Granted 338,073 81.41 407,151 50.78 310,924 79.12 Vested (255,039) 76.97 (206,624) 92.87 (167,591) 90.23 Forfeited (7,959) 67.90 (10,680) 69.66 (20,201) 91.11 Nonvested, end of year 716,485 $ 68.70 641,410 $ 65.28 451,563 $ 91.08

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Jul. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregates 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. 2021 2020 2019 NET SALES: Recreational vehicles North American Towables Travel Trailers and Other $ 3,791,235 $ 2,449,239 $ 2,710,308 Fifth Wheels 2,430,693 1,691,243 1,848,143 Total North American Towables 6,221,928 4,140,482 4,558,451 North American Motorized Class A 1,052,982 495,520 761,176 Class C 1,266,624 776,191 824,449 Class B 349,785 118,387 63,704 Total North American Motorized 2,669,391 1,390,098 1,649,329 Total North American 8,891,319 5,530,580 6,207,780 European Motorcaravan 1,779,906 1,505,353 960,155 Campervan 779,755 433,398 201,089 Caravan 292,708 273,475 172,144 Other RV-related 347,710 273,165 153,590 Total European 3,200,079 2,485,391 1,486,978 Total recreational vehicles 12,091,398 8,015,971 7,694,758 Other, primarily aluminum extruded components 373,174 234,481 263,374 Intercompany eliminations (147,192) (82,519) (93,374) Total $ 12,317,380 $ 8,167,933 $ 7,864,758

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Jul. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The components of other comprehensive income (loss) (“OCI”) and the changes in the Company’s accumulated OCI (“AOCI”) by component were as follows: 2021 Foreign Currency Unrealized Other AOCI, net of tax, Attributable to THOR Non-controlling Interests Total AOCI Balance at beginning of period, net of tax $ 46,512 $ (18,823) $ (696) $ 26,993 $ (855) $ 26,138 OCI before reclassifications 7,640 (1,100) (180) 6,360 83 6,443 Income taxes associated with OCI before reclassifications (1) — 327 — 327 — 327 Amounts reclassified from AOCI — 14,433 — 14,433 — 14,433 Income taxes associated with amounts reclassified from AOCI — (3,492) — (3,492) — (3,492) OCI, net of tax for the fiscal year 7,640 10,168 (180) 17,628 83 17,711 AOCI, net of tax $ 54,152 $ (8,655) $ (876) $ 44,621 $ (772) $ 43,849 2020 Foreign Currency Unrealized Other AOCI, net of tax, Attributable to THOR Non-controlling Interests Total AOCI Balance at beginning of period, net of tax $ (46,484) $ (9,472) $ (1,048) $ (57,004) $ (594) $ (57,598) OCI before reclassifications 92,996 (20,557) 352 72,791 (261) 72,530 Income taxes associated with OCI before reclassifications (1) — 4,906 — 4,906 — 4,906 Amounts reclassified from AOCI — 8,180 — 8,180 — 8,180 Income taxes associated with amounts reclassified from AOCI — (1,880) — (1,880) — (1,880) OCI, net of tax for the fiscal year 92,996 (9,351) 352 83,997 (261) 83,736 AOCI, net of tax $ 46,512 $ (18,823) $ (696) $ 26,993 $ (855) $ 26,138 2019 Foreign Currency Unrealized Other AOCI, net of tax, Attributable to THOR Non-controlling Interests Total AOCI Balance at beginning of period, net of tax $ — $ — $ — $ — $ — $ — OCI before reclassifications (44,090) (12,184) (1,048) (57,322) (594) (57,916) Income taxes associated with OCI before reclassifications (1) (2,394) 2,917 — 523 — 523 Amounts reclassified from AOCI — (279) — (279) — (279) Income taxes associated with amounts reclassified from AOCI — 74 — 74 — 74 AOCI, net of tax $ (46,484) $ (9,472) $ (1,048) $ (57,004) $ (594) $ (57,598) (1) We do not recognize deferred taxes for a majority of the foreign currency translation gains and losses because we do not anticipate reversal in the foreseeable future.

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail) $ in Thousands	12 Months Ended
	Jul. 31, 2021USD ($)	Jul. 31, 2021USD ($)	Jul. 31, 2021USD ($)Segment	Jul. 31, 2021USD ($)	Jul. 31, 2021USD ($)shares	Jul. 31, 2021USD ($)segment	Jul. 31, 2020USD ($)shares	Jul. 31, 2019USD ($)shares
Summary Of Significant Accounting Policies [Line Items]
Number of reportable segments			3			3
Cash and cash equivalents	$ 445,852	$ 445,852	$ 445,852	$ 445,852	$ 445,852	$ 445,852	$ 538,519	$ 425,615
Depreciation		113,398					98,933	73,139
Advertising costs		44,638					$ 67,019	$ 38,643
Maximum percentage of tax benefits realized upon ultimate settlement				50.00%
Stock-based compensation, requisite service period	3 years
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs)
Summary Of Significant Accounting Policies [Line Items]
Antidilutive restricted stock units and unvested restricted stock outstanding (in shares) | shares					0		0	233,395
Research and Development Expense
Summary Of Significant Accounting Policies [Line Items]
Research and development expense		26,775					$ 19,123	$ 9,381
Continuing Operations | Selling, General and Administrative Expenses
Summary Of Significant Accounting Policies [Line Items]
Depreciation		22,409					15,060	$ 8,350
Backlog
Summary Of Significant Accounting Policies [Line Items]
Finite-lived intangible asset, useful life	9 months
Rental vehicles
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful life	6 years
Minimum | Non-compete agreements
Summary Of Significant Accounting Policies [Line Items]
Finite-lived intangible asset, useful life	2 years
Minimum | Trademarks
Summary Of Significant Accounting Policies [Line Items]
Finite-lived intangible asset, useful life	15 years
Minimum | Dealer network
Summary Of Significant Accounting Policies [Line Items]
Finite-lived intangible asset, useful life	12 years
Minimum | Building and Building Improvements
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful life	10 years
Minimum | Machinery and equipment
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful life	3 years
Maximum | Non-compete agreements
Summary Of Significant Accounting Policies [Line Items]
Finite-lived intangible asset, useful life	15 years
Maximum | Trademarks
Summary Of Significant Accounting Policies [Line Items]
Finite-lived intangible asset, useful life	25 years
Maximum | Dealer network
Summary Of Significant Accounting Policies [Line Items]
Finite-lived intangible asset, useful life	20 years
Maximum | Building and Building Improvements
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful life	39 years
Maximum | Machinery and equipment
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful life	10 years
Euro Financial Institutions One
Summary Of Significant Accounting Policies [Line Items]
Cash and cash equivalents	$ 111,215	111,215	111,215	$ 111,215	$ 111,215	111,215	174,077
Euro Financial Institutions Two
Summary Of Significant Accounting Policies [Line Items]
Cash and cash equivalents	27,926	27,926	27,926	27,926	27,926	27,926	49,732
Held By One U.S. Financial Institution
Summary Of Significant Accounting Policies [Line Items]
Cash and cash equivalents	$ 260,101	$ 260,101	$ 260,101	$ 260,101	$ 260,101	$ 260,101	$ 260,876

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Difference Between Basic and Diluted Shares Outstanding (Detail) - shares	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Accounting Policies [Abstract]
Weighted-average shares outstanding for basic earnings per share (in shares)	55,333,959	55,172,694	53,905,667
Unvested restricted stock units (in shares)	353,294	224,682	121,019
Weighted-average shares outstanding assuming dilution (in shares)	55,687,253	55,397,376	54,026,686

ACQUISITIONS - Tiffin Group - A

ACQUISITIONS - Tiffin Group - Additional Information (Details) - Tiffin Group - USD ($) $ in Thousands	Dec. 18, 2020	Jul. 31, 2021
Business Acquisition [Line Items]
Purchase price	$ 300,000
Revenue of acquiree since acquisition date		$ 421,438
Earnings or loss of acquiree since acquisition date		11,648
Business combination, adjustment, inventory		4,272
Business combination, adjustment, intangibles		$ 6,656
Acquired finite-lived intangible assets, weighted average useful life	18 years 9 months 18 days
Asset Based Credit Facility
Business Acquisition [Line Items]
Proceeds from Long-term Lines of Credit	$ 165,000
Trademarks
Business Acquisition [Line Items]
Finite-lived intangible assets, amortization period	20 years
Minimum | Dealer network
Business Acquisition [Line Items]
Finite-lived intangible assets, amortization period	18 years
Minimum | Backlog
Business Acquisition [Line Items]
Finite-lived intangible assets, amortization period	5 months
Maximum | Dealer network
Business Acquisition [Line Items]
Finite-lived intangible assets, amortization period	20 years
Maximum | Backlog
Business Acquisition [Line Items]
Finite-lived intangible assets, amortization period	7 months

ACQUISITIONS - Tiffin Group -_2

ACQUISITIONS - Tiffin Group - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 18, 2020	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 1,563,255	$ 1,476,541	$ 1,358,032
Total fair value of net assets acquired, less cash acquired		$ 310,938	$ 0	$ 1,658,577
Tiffin Group
Business Acquisition [Line Items]
Cash	$ 13,074
Inventory	116,441
Other assets	53,860
Property, plant and equipment	48,262
Goodwill	65,064
Current liabilities	(81,423)
Deferred income tax liabilities	(37,263)
Other long-term liabilities	(7,203)
Total fair value of net assets acquired	301,312
Less cash acquired	(13,074)
Total fair value of net assets acquired, 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 - Add

ACQUISITIONS - Togo Group - Additional Information (Details) - USD ($) $ in Thousands	Aug. 01, 2020	Mar. 23, 2020	Mar. 23, 2020	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Business Acquisition [Line Items]
Payments to acquire interest in joint venture					$ 0	$ 0	$ 6,500
Togo Group
Business Acquisition [Line Items]
Payments to acquire interest in joint venture	$ 6,000
Ownership percentage after all transactions		73.50%
Equity, fair value disclosure		$ 47,256	$ 47,256
Preferred stock, dividend rate, percentage		3.00%
Preferred stock, liquidation preference		$ 20,180	20,180
Call option expiration period		4 years
Acquired finite-lived intangible assets, weighted average useful life				8 years
Losses from investment			$ 6,884				$ 8,798

ACQUISITIONS - Togo Group - Sch

ACQUISITIONS - Togo Group - Schedule of Net Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Jul. 31, 2020	Mar. 23, 2020	Jul. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 1,563,255	$ 1,476,541		$ 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 interests			(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 - Erwin Hymer - Ad

ACQUISITIONS - Erwin Hymer - Additional Information (Details) - USD ($)	Feb. 02, 2019	Feb. 01, 2019	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Business Acquisition [Line Items]
Measurement period adjustment			$ 2,728,000	$ 871,000
Goodwill			1,563,255,000	1,476,541,000	$ 1,358,032,000
Impairment charges			0	10,057,000	0
Payments to acquire interest in joint venture			$ 0	0	6,500,000
North America | Subsidary Loan
Business Acquisition [Line Items]
Impairment charges					52,501,000
Fair Value Adjustment to Inventory | Proforma Income
Business Acquisition [Line Items]
Fair value adjustment	$ 61,418,000
Other Expense
Business Acquisition [Line Items]
Acquisition related costs					44,089,000
Backlog
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life			9 months
Erwin Hymer Group
Business Acquisition [Line Items]
Measurement period adjustment				1,282,000
Acquired finite-lived intangible assets, weighted average useful life		17 years
Goodwill		$ 1,009,754,000
Business acquisition, goodwill, expected tax deductible amount		311,000,000
Guarantee liabilities related to former EHG North American subsidiaries		$ 115,668,000
Guarantee liabilities			$ 0	$ 0
Erwin Hymer Group | Acquisition Costs
Business Acquisition [Line Items]
Acquisition related costs					114,866,000
Erwin Hymer Group | Acquisition Costs | Foreign Currency Contract Losses
Business Acquisition [Line Items]
Acquisition related costs					$ 70,777,000
Erwin Hymer Group | Dealer network
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		20 years
Erwin Hymer Group | Trademarks
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		20 years
Erwin Hymer Group | Technology-Based Intangible Assets
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		10 years
Erwin Hymer Group | Backlog
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		5 months

ACQUISITIONS - Erwin Hymer - Es

ACQUISITIONS - Erwin Hymer - Estimated Fair Value of Assets and Liabilities (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019	Feb. 01, 2019
Business Acquisition [Line Items]
Goodwill	$ 1,563,255	$ 1,476,541	$ 1,358,032
Erwin Hymer Group
Business Acquisition [Line Items]
Cash				$ 97,887
Inventory				593,053
Other assets				435,747
Property, plant and equipment, rental vehicles				80,132
Property, plant and equipment				437,216
Goodwill				1,009,754
Guarantee liabilities related to former EHG North American subsidiaries				(115,668)
Other current liabilities				(851,774)
Debt – Unsecured notes				(114,710)
Debt – Other				(166,196)
Deferred income tax liabilities				(152,186)
Other long-term liabilities				(17,205)
Non-controlling interests				(12,207)
Total fair value of net assets acquired				1,900,632
Less: cash acquired				(97,887)
Total fair value of net assets acquired, less cash acquired				1,802,745
Erwin Hymer Group | Dealer network
Business Acquisition [Line Items]
Amortizable intangible assets				355,601
Erwin Hymer Group | Trademarks
Business Acquisition [Line Items]
Amortizable intangible assets				126,181
Erwin Hymer Group | Technology-Based Intangible Assets
Business Acquisition [Line Items]
Amortizable intangible assets				183,536
Erwin Hymer Group | Backlog
Business Acquisition [Line Items]
Amortizable intangible assets				$ 11,471

ACQUISITIONS - Pro Forma Inform

ACQUISITIONS - Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Business Combinations [Abstract]
Net sales	$ 12,581,282	$ 8,870,746	$ 9,067,750
Net income	$ 667,308	$ 223,861	$ 136,831
Basic earnings per common share (in dollars per share)	$ 12.06	$ 4.06	$ 2.54
Diluted earnings per common share (in dollars per share)	$ 11.98	$ 4.04	$ 2.53

BUSINESS SEGMENTS - Additional

BUSINESS SEGMENTS - Additional Information (Detail) - 12 months ended Jul. 31, 2021	Segment	segment
Segment Reporting [Abstract]
Number of reportable segments	3	3

BUSINESS SEGMENTS - Schedule of

BUSINESS SEGMENTS - Schedule of Segment Reporting Information by Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Segment Reporting Information [Line Items]
Net sales	$ 12,317,380	$ 8,167,933	$ 7,864,758
Income (loss) from continuing operations before income taxes, noncontrolling interest	844,581	272,896	184,666
Operating Segments
Segment Reporting Information [Line Items]
Net sales	12,091,398	8,015,971	7,694,758
Income (loss) from continuing operations before income taxes, noncontrolling interest	977,597	418,000	397,192
Operating Segments | Total North America
Segment Reporting Information [Line Items]
Net sales	8,891,319	5,530,580	6,207,780
Income (loss) from continuing operations before income taxes, noncontrolling interest	861,021	408,150	403,138
Operating Segments | North American Towables
Segment Reporting Information [Line Items]
Net sales	6,221,928	4,140,482	4,558,451
Income (loss) from continuing operations before income taxes, noncontrolling interest	658,964	336,207	322,228
Operating Segments | North American Motorized
Segment Reporting Information [Line Items]
Net sales	2,669,391	1,390,098	1,649,329
Income (loss) from continuing operations before income taxes, noncontrolling interest	202,057	71,943	80,910
Operating Segments | European
Segment Reporting Information [Line Items]
Net sales	3,200,079	2,485,391	1,486,978
Income (loss) from continuing operations before income taxes, noncontrolling interest	116,576	9,850	(5,946)
Other
Segment Reporting Information [Line Items]
Net sales	373,174	234,481	263,374
Income (loss) from continuing operations before income taxes, noncontrolling interest	57,674	27,751	29,086
Intercompany Eliminations
Segment Reporting Information [Line Items]
Net sales	(147,192)	(82,519)	(93,374)
Corporate
Segment Reporting Information [Line Items]
Income (loss) from continuing operations before income taxes, noncontrolling interest	$ (190,690)	$ (172,855)	$ (241,612)

BUSINESS SEGMENTS - Schedule _2

BUSINESS SEGMENTS - Schedule of Segment Reporting Information, by Segment Balance Sheet Item (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Segment Reporting Information [Line Items]
Total assets	$ 6,654,088	$ 5,771,460
Depreciation and Intangible amortization expense	230,581	196,167	$ 148,777
Capital acquisitions	131,681	105,823	127,245
Operating Segments
Segment Reporting Information [Line Items]
Total assets	5,919,904	5,112,209
Depreciation and Intangible amortization expense	216,663	183,915	136,463
Capital acquisitions	124,976	101,987	122,153
Operating Segments | Total North America
Segment Reporting Information [Line Items]
Total assets	2,944,083	2,010,138
Depreciation and Intangible amortization expense	89,231	80,244	81,582
Capital acquisitions	58,046	39,822	86,500
Operating Segments | North American Towables
Segment Reporting Information [Line Items]
Total assets	1,870,577	1,529,913
Depreciation and Intangible amortization expense	66,078	66,042	67,751
Capital acquisitions	35,816	27,219	69,321
Operating Segments | North American Motorized
Segment Reporting Information [Line Items]
Total assets	1,073,506	480,225
Depreciation and Intangible amortization expense	23,153	14,202	13,831
Capital acquisitions	22,230	12,603	17,179
Operating Segments | European
Segment Reporting Information [Line Items]
Total assets	2,975,821	3,102,071
Depreciation and Intangible amortization expense	127,432	103,671	54,881
Capital acquisitions	66,930	62,165	35,653
Other
Segment Reporting Information [Line Items]
Total assets	272,350	212,378
Depreciation and Intangible amortization expense	12,220	10,488	10,647
Capital acquisitions	5,620	2,664	3,493
Corporate
Segment Reporting Information [Line Items]
Total assets	461,834	446,873
Depreciation and Intangible amortization expense	1,698	1,764	1,667
Capital acquisitions	$ 1,085	$ 1,172	$ 1,599

BUSINESS SEGMENTS - Schedule _3

BUSINESS SEGMENTS - Schedule of Segment Reporting Information, by Segment Geographic Region Item (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Segment Reporting Information [Line Items]
Net sales	$ 12,317,380	$ 8,167,933	$ 7,864,758
Property, plant and equipment, net	1,185,131	1,107,649
United States
Segment Reporting Information [Line Items]
Net sales	8,462,652	5,296,482	5,803,373
Property, plant and equipment, net	626,375	564,171
Germany
Segment Reporting Information [Line Items]
Net sales	1,977,808	1,494,419	836,151
Property, plant and equipment, net	460,446	444,981
Other Europe
Segment Reporting Information [Line Items]
Net sales	1,189,747	966,023	636,105
Property, plant and equipment, net	95,266	93,220
Canada
Segment Reporting Information [Line Items]
Net sales	638,118	377,053	561,172
Other foreign
Segment Reporting Information [Line Items]
Net sales	49,055	33,956	$ 27,957
Property, plant and equipment, net	$ 3,044	$ 5,277

DERIVATIVES AND HEDGING - Fair

DERIVATIVES AND HEDGING - Fair Value of Our Derivative Instruments and the Associated Notional Amounts (Details) - Designated as Hedging Instrument £ in Thousands, $ in Thousands	Jul. 31, 2021USD ($)	Jul. 31, 2021GBP (£)	Jul. 31, 2020USD ($)
Derivative [Line Items]
Notional	$ 524,037		$ 673,400
Fair Value in Other Current Liabilities	11,508		24,840
Foreign currency forward contracts
Derivative [Line Items]
Notional	41,899	£ 30,000	0
Fair Value in Other Current Liabilities	88		0
Interest rate swap agreements
Derivative [Line Items]
Notional	482,138		673,400
Fair Value in Other Current Liabilities	$ 11,420		$ 24,840

DERIVATIVES AND HEDGING - Addit

DERIVATIVES AND HEDGING - Additional Information (Detail) $ in Thousands, € in Millions	12 Months Ended
	Jul. 31, 2021USD ($)	Jul. 31, 2020USD ($)	Jul. 31, 2019USD ($)	Sep. 18, 2018EUR (€)
Derivative [Line Items]
Maturity period	6 months
Foreign currency transaction	$ (1,943)	$ (25,915)	$ 7,780
Not Designated as Hedging Instrument
Derivative [Line Items]
Notional	32,466	34,862
Not Designated as Hedging Instrument | Other Liabilities
Derivative [Line Items]
Derivative liability	$ 1,948	1,824
Acquisition Costs | Foreign Currency Contract Losses
Derivative [Line Items]
Acquisition related costs			$ 70,777
Foreign currency forward contracts | Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amount | €				€ 1,625
Interest rate swap agreements | Designated as Hedging Instrument
Derivative [Line Items]
Notional amount		$ 900,000
Term of swap		4 years 6 months

DERIVATIVES AND HEDGING - Finan

DERIVATIVES AND HEDGING - Financial Statement Impact of Derivatives (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Derivative [Line Items]
Gain (loss) recognized in Other comprehensive income (loss), net of tax	$ 10,168	$ (9,351)	$ (9,267)
Foreign currency forward contracts
Derivative [Line Items]
Gain (loss) recognized in Other comprehensive income (loss), net of tax	(63)	0	129
Interest rate swap agreements
Derivative [Line Items]
Gain (loss) recognized in Other comprehensive income (loss), net of tax	10,231	(9,351)	(9,396)
Other comprehensive income (loss), net of tax, before reclassification	340	(15,265)	(9,320)
Sales
Derivative [Line Items]
Gain (loss) recognized in Other comprehensive income (loss), net of tax	(1,050)	(386)	129
Sales | Foreign currency forward contracts
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI, Net of Tax	(1,050)	(386)	129
Amount of gain (loss) recognized in income, net of tax			0
Sales | Interest rate swap agreements
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI, Net of Tax	0	0	0
Amount of gain (loss) recognized in income, net of tax	0	0	0
Acquisition-Related Costs
Derivative [Line Items]
Gain (loss) recognized in Other comprehensive income (loss), net of tax			(70,777)
Acquisition-Related Costs | Foreign currency forward contracts
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI, Net of Tax			0
Amount of gain (loss) recognized in income, net of tax			(70,777)
Acquisition-Related Costs | Interest rate swap agreements
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI, Net of Tax			0
Amount of gain (loss) recognized in income, net of tax			0
Interest Expense
Derivative [Line Items]
Gain (loss) recognized in Other comprehensive income (loss), net of tax	(9,976)	(6,290)	(362)
Interest Expense | Foreign currency forward contracts
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI, Net of Tax	0	0	0
Amount of gain (loss) recognized in income, net of tax			0
Interest Expense | Interest rate swap agreements
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI, Net of Tax	(9,891)	(5,914)	76
Amount of gain (loss) recognized in income, net of tax	$ (85)	$ (376)	$ (438)

INVENTORIES - Schedule of Major

INVENTORIES - Schedule of Major Classifications of Inventories (Detail) - USD ($) $ in Thousands	Jul. 31, 2021	Jul. 31, 2020
Inventory [Line Items]
Work in process	$ 376,594	$ 128,181
Raw materials	602,106	302,813
Chassis	292,921	135,194
Subtotal	1,444,274	763,264
Excess of FIFO costs over LIFO costs	(74,890)	(46,959)
Inventories, net	1,369,384	716,305
Recreational vehicles
Inventory [Line Items]
Finished goods	114,843	152,297
Other
Inventory [Line Items]
Finished goods	$ 57,810	$ 44,779

INVENTORIES - Additional Inform

INVENTORIES - Additional Information (Detail) - USD ($) $ in Thousands	Jul. 31, 2021	Jul. 31, 2020
Inventory [Line Items]
Inventories	$ 1,444,274	$ 763,264
LIFO
Inventory [Line Items]
Subsidiaries valued inventory in last-in, first-out method	497,507	251,099
FIFO
Inventory [Line Items]
Subsidiaries valued inventory in first-in, first-out method	$ 946,767	$ 512,165

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Detail) - USD ($) $ in Thousands	Jul. 31, 2021	Jul. 31, 2020
Property, Plant and Equipment [Line Items]
Operating lease right-of-use assets	$ 42,601	$ 33,609
Finance lease right-of-use assets	7,010	3,672
Total cost	1,628,585	1,456,986
Less accumulated depreciation	(443,454)	(349,337)
Property, plant and equipment, net	1,185,131	1,107,649
Land
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	142,746	136,200
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	837,065	760,986
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	523,714	438,985
Rental vehicles
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	$ 75,449	$ 83,534

INTANGIBLE ASSETS AND GOODWIL_2

INTANGIBLE ASSETS AND GOODWILL - Components of Amortizable Intangible Assets (Detail) - USD ($) $ in Thousands	Jul. 31, 2021	Jul. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Cost	$ 1,390,126	$ 1,255,441
Accumulated amortization	452,955	340,717
Dealer networks/customer relationships
Finite-Lived Intangible Assets [Line Items]
Cost	861,562	766,198
Accumulated amortization	327,751	252,320
Trademarks
Finite-Lived Intangible Assets [Line Items]
Cost	311,208	275,775
Accumulated amortization	62,675	47,743
Design technology and other intangibles
Finite-Lived Intangible Assets [Line Items]
Cost	215,956	213,468
Accumulated amortization	62,237	40,654
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Cost	1,400	0
Accumulated amortization	$ 292	$ 0

INTANGIBLE ASSETS AND GOODWIL_3

INTANGIBLE ASSETS AND GOODWILL - Estimated Amortization Expense (Detail) $ in Thousands	Jul. 31, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
For the fiscal year ending July 31, 2022	$ 124,151
For the fiscal year ending July 31, 2023	105,779
For the fiscal year ending July 31, 2024	95,960
For the fiscal year ending July 31, 2025	87,817
For the fiscal year ending July 31, 2026	79,049
For the fiscal year ending July 31, 2027 and thereafter	444,415
Estimated annual amortization expense, total	$ 937,171

INTANGIBLE ASSETS AND GOODWIL_4

INTANGIBLE ASSETS AND GOODWILL - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	12 Months Ended
	Oct. 31, 2020	Jan. 31, 2020	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Intangible Assets And Goodwill [Line Items]
Impairment charges				$ 0	$ 10,057	$ 0
Pre-tax, non-cash goodwill impairment charge	$ 0		$ 0	$ 0	$ 1,036	$ 0
North American Towables
Intangible Assets And Goodwill [Line Items]
Impairment charges		$ 10,057
Pre-tax, non-cash goodwill impairment charge		$ 1,036

INTANGIBLE ASSETS AND GOODWIL_5

INTANGIBLE ASSETS AND GOODWILL - Changes in Carrying Amount of Goodwill by Reportable Segment (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Oct. 31, 2020	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 1,476,541		$ 1,476,541	$ 1,358,032
Goodwill acquired			80,218	62,366
Measurement period adjustment			2,728	871
Foreign currency translation and other			3,768	56,308
Impairment charge	0	$ 0	0	(1,036)	$ 0
Goodwill, Ending Balance		1,476,541	1,563,255	1,476,541	1,358,032
Other
Goodwill [Line Items]
Goodwill, Beginning Balance	104,826		104,826	42,871
Goodwill acquired			17,882	62,366
Measurement period adjustment			0	(411)
Foreign currency translation and other			0	0
Impairment charge
Goodwill, Ending Balance		104,826	122,708	104,826	42,871
North American Towables | Operating Segments
Goodwill [Line Items]
Goodwill, Beginning Balance	333,786		333,786	334,822
Goodwill acquired			18,845	0
Measurement period adjustment			(7,656)	0
Foreign currency translation and other			0	0
Impairment charge				(1,036)
Goodwill, Ending Balance		333,786	344,975	333,786	334,822
North American Motorized | Operating Segments
Goodwill [Line Items]
Goodwill, Beginning Balance	0		0	0
Goodwill acquired			43,491	0
Measurement period adjustment			10,384	0
Foreign currency translation and other			0	0
Impairment charge
Goodwill, Ending Balance		0	53,875	0	0
European | Operating Segments
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 1,037,929		1,037,929	980,339
Goodwill acquired			0	0
Measurement period adjustment			0	1,282
Foreign currency translation and other			3,768	56,308
Impairment charge
Goodwill, Ending Balance		$ 1,037,929	$ 1,041,697	$ 1,037,929	$ 980,339

INTANGIBLE ASSETS AND GOODWIL_6

INTANGIBLE ASSETS AND GOODWILL - Summary of Components of Net Balance (Detail) - USD ($) $ in Thousands	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Goodwill [Line Items]
Goodwill	$ 1,590,656	$ 1,503,942
Accumulated impairment charges	(27,401)	(27,401)
Net balance	1,563,255	1,476,541	$ 1,358,032
Other
Goodwill [Line Items]
Goodwill	122,708	104,826
Accumulated impairment charges	0	0
Net balance	122,708	104,826	42,871
North American Towables | Operating Segments
Goodwill [Line Items]
Goodwill	355,124	343,935
Accumulated impairment charges	(10,149)	(10,149)
Net balance	344,975	333,786	334,822
North American Motorized | Operating Segments
Goodwill [Line Items]
Goodwill	71,127	17,252
Accumulated impairment charges	(17,252)	(17,252)
Net balance	53,875	0	0
European | Operating Segments
Goodwill [Line Items]
Goodwill	1,041,697	1,037,929
Accumulated impairment charges	0	0
Net balance	$ 1,041,697	$ 1,037,929	$ 980,339

CONCENTRATION OF RISK (Detail)

CONCENTRATION OF RISK (Detail) - Customer Concentration Risk - Freedom Roads, LLC	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Net Sales
Concentration Risk [Line Items]
Concentration risk percentage	13.00%	15.00%	18.50%
Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage	15.00%	18.00%

EMPLOYEE BENEFIT PLANS (Detail)

EMPLOYEE BENEFIT PLANS (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Postemployment Benefits [Abstract]
Employer match and administrative fees for 401(k) plan	$ 2,081	$ 2,987	$ 3,197
Deferred compensation plan mutual fund assets	$ 84,588	$ 61,290

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Detail) - USD ($) $ in Thousands	Jul. 31, 2021	Jul. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan mutual fund assets	$ 84,588	$ 61,290
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	204	227,154
Deferred compensation plan mutual fund assets	51,085	47,327
Deferred compensation plan liabilities	84,588	61,290
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contract liability	88	0
Interest rate swap liabilities	$ 13,369	$ 26,664

PRODUCT WARRANTY - Additional I

PRODUCT WARRANTY - Additional Information (Detail)	12 Months Ended
	Jul. 31, 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 WARRANTY - Schedule of

PRODUCT WARRANTY - Schedule of Changes in Liability (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Product Warranty
Beginning balance	$ 252,869	$ 289,679	$ 264,928
Provision	261,851	198,873	233,927
Payments	(258,624)	(238,590)	(251,071)
Acquisition	11,032	0	43,329
Foreign currency translation	492	2,907	(1,434)
Ending balance	$ 267,620	$ 252,869	$ 289,679

LONG-TERM DEBT - Schedule of Lo

LONG-TERM DEBT - Schedule of Long-term Debt (Details) € in Thousands, $ in Thousands	Jul. 31, 2021USD ($)	Jul. 31, 2021EUR (€)	Jul. 31, 2020USD ($)
Debt Instrument [Line Items]
Unsecured notes	$ 29,728	€ 25,000	$ 29,620
Other debt	70,952		84,500
Total long-term debt, gross	1,640,693		1,711,211
Debt issuance costs, net of amortization	(33,461)		(44,563)
Total long-term debt, net of debt issuance costs	1,607,232		1,666,648
Less: current portion of long-term debt	(12,411)		(13,817)
Total long-term debt, net, less current portion	1,594,821		1,652,831
Term Loan
Debt Instrument [Line Items]
Term loan	1,540,013		1,597,091
Total long-term debt, net of debt issuance costs	$ 1,540,013		$ 1,597,091

LONG-TERM DEBT - Additional Inf

LONG-TERM DEBT - Additional Information (Detail) € in Thousands	Mar. 25, 2021	Feb. 01, 2019USD ($)	Jul. 31, 2021USD ($)	Jul. 31, 2020USD ($)	Jul. 31, 2019USD ($)	Sep. 01, 2021USD ($)	Jul. 31, 2021EUR (€)	Feb. 01, 2019EUR (€)
Line of Credit Facility [Line Items]
Total long-term debt			$ 1,640,693,000	$ 1,711,211,000
Unsecured debt			29,728,000	29,620,000			€ 25,000
Extinguishment of debt, amount			4,688,000
Fees to secure the facility, amount incurred					$ 56,166,000
Fees to secure the facility, amortized amount			15,407,000	10,743,000	$ 6,189,000
Unamortized debt issuance expense			7,005,000	9,807,000
Long term debt			1,607,232,000	1,666,648,000
Term Loan
Line of Credit Facility [Line Items]
Debt Instrument, term		7 years
Term loan			1,540,013,000	1,597,091,000
Principal payment percentage		1.00%
Quarterly principal repayment percentage		0.25%
Debt instrument, amortization period					7 years
Fair value disclosure			1,551,141,000	1,565,866,000
Long term debt			$ 1,540,013,000	1,597,091,000
Term Loan | Interest rate swap agreements
Line of Credit Facility [Line Items]
Interest rate, stated percentage			2.466%				2.466%
Term Loan | Us Tranche
Line of Credit Facility [Line Items]
Term loan			$ 482,138,000	$ 673,400,000
Interest rate, stated percentage			3.125%	3.938%			3.125%
Interest rate, increase (decrease)	(0.75%)
Percentage based bearing fixed interest			5.466%	6.216%			5.466%
Term Loan | Us Tranche | Base Rate
Line of Credit Facility [Line Items]
Interest rate, stated percentage		2.75%						2.75%
Term Loan | Us Tranche | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Term loan		$ 1,386,434,000	$ 941,900,000	$ 941,900,000
Interest rate, stated percentage		3.75%						3.75%
Term Loan | Euro Tranche
Line of Credit Facility [Line Items]
Term loan		$ 708,584,000	$ 598,113,000	$ 655,191,000				€ 617,718
Interest rate, stated percentage			3.00%	4.00%			3.00%
Interest rate, increase (decrease)	(1.00%)
Term Loan | Euro Tranche | Euro Interbank Offered Rate EURIBOR
Line of Credit Facility [Line Items]
Interest rate, stated percentage		4.00%						4.00%
Debt instrument, variable interest rate floor		0.00%						0.00%
Unsecured Series One Debt
Line of Credit Facility [Line Items]
Interest rate, stated percentage			1.945%				1.945%
Unsecured debt			$ 23,782,000				€ 20,000
Unsecured Series Two Debt
Line of Credit Facility [Line Items]
Interest rate, stated percentage			2.534%				2.534%
Unsecured debt			$ 5,946,000				€ 5,000
Other Long Term Debt | Maximum
Line of Credit Facility [Line Items]
Interest rate, stated percentage			3.43%				3.43%
Other Long Term Debt | Minimum
Line of Credit Facility [Line Items]
Interest rate, stated percentage			1.40%				1.40%
ABL and Term Loan
Line of Credit Facility [Line Items]
Accelerated amortization of debt issuance costs			$ 4,688,000
Interest expense			76,072,000	$ 93,475,000	$ 56,932,000
Fees to secure the facility, amortized amount			15,407,000	10,743,000	$ 5,404,000
Asset Based Credit Facility
Line of Credit Facility [Line Items]
Debt instrument, amortization period					5 years
Asset Based Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 750,000,000	750,000,000
Unused capacity, commitment fee percentage		0.25%
Total long-term debt			$ 0	$ 0
Minimum coverage ratio			1				1
Coverage ratio threshold percentage			10.00%				10.00%
Coverage ratio, threshold amount			$ 60,000,000
Additional borrowing amount			150,000,000
Borrowing availability			720,000,000
Fees to secure the facility, amount incurred					$ 14,010,000
Fees to secure the facility, amortized amount					$ 785,000
Asset Based Credit Facility | Subsequent Event
Line of Credit Facility [Line Items]
Maximum borrowing capacity						$ 1,000,000,000
Asset Based Credit Facility | Base Rate | Maximum
Line of Credit Facility [Line Items]
Interest rate, stated percentage		0.75%						0.75%
Asset Based Credit Facility | Base Rate | Minimum
Line of Credit Facility [Line Items]
Interest rate, stated percentage		0.25%						0.25%
Asset Based Credit Facility | London Interbank Offered Rate (LIBOR) | Maximum
Line of Credit Facility [Line Items]
Interest rate at period end		1.75%						1.75%
Asset Based Credit Facility | London Interbank Offered Rate (LIBOR) | Minimum
Line of Credit Facility [Line Items]
Interest rate at period end		1.25%						1.25%
Swingline Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity			75,000,000
Letters of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 75,000,000

LONG-TERM DEBT - Schedule of Ma

LONG-TERM DEBT - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Jul. 31, 2020
Debt Disclosure [Abstract]
For the fiscal year ending July 31, 2022	$ 12,411
For the fiscal year ending July 31, 2023	12,194
For the fiscal year ending July 31, 2024	12,321
For the fiscal year ending July 31, 2025	35,979
For the fiscal year ending July 31, 2026	1,543,267
For the fiscal year ending July 31, 2027 and thereafter	24,521
Total long-term debt, gross	$ 1,640,693	$ 1,711,211

INCOME TAXES - Earnings Before

INCOME TAXES - Earnings Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Income Tax Disclosure [Abstract]
United States	$ 725,262	$ 258,483	$ 200,859
Foreign	119,319	14,413	(16,193)
Income before income taxes	$ 844,581	$ 272,896	$ 184,666

INCOME TAXES - Schedule of Comp

INCOME TAXES - Schedule of Components of Provision for Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Income Tax Disclosure [Abstract]
U.S. Federal	$ 148,706	$ 49,494	$ 48,757
U.S. state and local	26,344	9,891	5,921
Foreign	17,571	1,842	6,611
Total current expense	192,621	61,227	61,289
U.S. Federal	162	6,472	10,862
U.S. state and local	(365)	(197)	(36)
Foreign	(8,707)	(15,990)	(19,914)
Total deferred expense (benefit)	(8,910)	(9,715)	(9,088)
Total income tax expense	$ 183,711	$ 51,512	$ 52,201

INCOME TAXES - Schedule of Diff

INCOME TAXES - Schedule of Differences between Income Tax Expense at Federal Statutory Rate and Actual Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Income Tax Disclosure [Abstract]
Provision at federal statutory rate	$ 177,362	$ 57,308	$ 38,779
Differences between U.S. federal statutory and foreign tax rates	(16,857)	(50,898)	1,478
Foreign currency remeasurement (gains) losses	1,595	30,246	(12,942)
U.S. state and local income taxes, net of federal benefit	20,407	7,616	4,642
Nondeductible compensation	6,418	2,249	2,401
Nondeductible acquisition costs	0	0	3,031
Nondeductible foreign currency forward contract loss on acquisition	0	0	14,863
Federal income tax credits and incentives	(3,530)	(1,738)	(3,373)
Change in uncertain tax positions	1,209	1,101	1,279
Other	(2,893)	5,628	2,043
Total income tax expense	$ 183,711	$ 51,512	$ 52,201

INCOME TAXES - Schedule of Defe

INCOME TAXES - Schedule of Deferred Income Tax Balances (Detail) - USD ($) $ in Thousands	Jul. 31, 2021	Jul. 31, 2020
Income Tax Disclosure [Abstract]
Inventory basis	$ 3,158	$ 1,000
Employee benefits	10,485	7,353
Self-insurance reserves	6,949	4,923
Accrued product warranties	53,258	53,586
Accrued incentives	4,403	4,316
Sales returns and allowances	934	1,027
Accrued expenses	7,496	6,733
Property, plant and equipment	(36,662)	(28,438)
Operating leases	10,615	9,110
Deferred compensation	19,260	15,876
Intangibles	(173,360)	(147,423)
Net operating loss and other carryforwards	38,669	32,877
Unrealized loss	609	4,892
Unrecognized tax benefits	3,946	3,046
Other	(4,949)	4,558
Valuation allowance	(17,193)	(18,500)
Deferred income tax (liability), net	$ (72,382)	$ (45,064)

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Income Tax [Line Items]
Income tax expense benefit	$ 192,621	$ 61,227	$ 61,289
Unrecognized tax benefits that, if recognized, would affect the company's income tax rate	13,631	11,606	11,332
Accrued interest and penalties	2,967	2,516
Total amount of interest and penalties expense (benefit) recognized	238	$ 544	$ 454
Expected decrease in unrecognized tax benefits due to resolution of uncertain tax positions	4,600
Expected decrease in interest due to resolution of uncertain tax positions	1,600
Operating Loss Carryforwards, Valuation Allowance	70,037
State and Local Jurisdiction
Income Tax [Line Items]
Tax credit carry forward	2,972
Gross state tax net operating loss carry forwards	$ 4,961
State and Local Jurisdiction | Earliest Tax Year
Income Tax [Line Items]
Tax credit carry forward expiration year	2030
Gross state tax net operating loss carry forwards, expiration year	2022
State and Local Jurisdiction | Latest Tax Year
Income Tax [Line Items]
Tax credit carry forward expiration year	2031
Gross state tax net operating loss carry forwards, expiration year	2041
Foreign Tax Authority
Income Tax [Line Items]
Gross state tax net operating loss carry forwards	$ 75,407
Foreign Tax Authority | Earliest Tax Year
Income Tax [Line Items]
Gross state tax net operating loss carry forwards, expiration year	2023

INCOME TAXES - Schedule of Chan

INCOME TAXES - Schedule of Changes in Unrecognized Tax Benefit (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Income Tax Disclosure [Abstract]
Beginning balance	$ 14,238	$ 13,848	$ 13,004
Tax positions related to prior years: Additions	72	73	0
Tax positions related to prior years: Reductions	(277)	(129)	(263)
Tax positions related to current year: Additions	4,346	1,966	2,062
Settlements	(3,363)	0	(773)
Lapses in statute of limitations	(2,701)	(1,520)	(918)
Tax positions acquired	4,710	0	736
Ending balance	$ 17,025	$ 14,238	$ 13,848

INCOME TAXES - Components of To

INCOME TAXES - Components of Total Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 17,025	$ 14,238	$ 13,848	$ 13,004
Reduction to unrecognized tax benefits which offset tax credit and loss carryforwards	(725)	(809)
Accrued interest and penalties	2,967	2,516
Total unrecognized tax benefits	19,267	15,945
Short-term, included in “Income and other taxes”	3,423	3,180
Long-term	15,844	12,765
Total unrecognized tax benefits	$ 19,267	$ 15,945

CONTINGENT LIABILITIES AND CO_2

CONTINGENT LIABILITIES AND COMMITMENTS (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Standby repurchase obligations amount	$ 1,821,012	$ 1,876,922
Terms of commitments	18 months
Repurchase and guarantee reserve balances	$ 6,023	$ 7,747

LEASES - Components of Lease Co

LEASES - Components of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Leases [Abstract]
Operating lease cost	$ 18,140	$ 12,580
Amortization of right-of-use assets	662	544
Interest on lease liabilities	520	531
Total lease cost	$ 19,322	$ 13,655

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Leases [Abstract]
Operating cash flows from operating leases	$ 18,054	$ 12,487
Operating leases	16,636	4,655
Finance leases	$ 4,000	$ 0

LEASES - Assets and Liabilities

LEASES - Assets and Liabilities (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Jul. 31, 2020
Leases [Abstract]
Operating lease right-of-use assets	$ 42,601	$ 33,609
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant, and Equipment and Finance Lease and Operating Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	Property, Plant, and Equipment and Finance Lease and Operating Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Other current liabilities	$ 8,944	$ 5,343
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other	Other
Other long-term liabilities	$ 33,923	$ 28,456
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Total operating lease liabilities	$ 42,867	$ 33,799
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant, and Equipment and Finance Lease and Operating Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	Property, Plant, and Equipment and Finance Lease and Operating Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Finance lease right-of-use assets	$ 7,010	$ 3,672
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other	Other
Other current liabilities	$ 1,081	$ 505
Other long-term liabilities	$ 4,694	$ 4,743
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Total finance lease liabilities	$ 5,775	$ 5,248
Weighted average remaining lease term - operating leases	11 years 1 month 6 days	13 years 7 months 6 days
Weighted average remaining lease term - financing leases	5 years 1 month 6 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%

LEASES - Schedule of Maturities

LEASES - Schedule of Maturities of Company's Operating and Finance Leases (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Jul. 31, 2020
Leases [Abstract]
For the fiscal year ending July 31, 2022	$ 13,923
For the fiscal year ending July 31, 2023	10,576
For the fiscal year ending July 31, 2024	7,763
For the fiscal year ending July 31, 2025	5,188
For the fiscal year ending July 31, 2026	3,530
For the fiscal year ending July 31, 2027 and thereafter	18,267
Total future lease payments	59,247
Less: amount representing interest	(16,380)
Total operating lease liabilities	42,867	$ 33,799
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	1,107
For the fiscal year ending July 31, 2027 and thereafter	954
Total future lease payments	7,336
Less: amount representing interest	(1,561)
Total finance lease liabilities	$ 5,775	$ 5,248

LEASES - Additional Information

LEASES - Additional Information (Detail) $ in Thousands	12 Months Ended
	Jul. 31, 2019USD ($)
Leases [Abstract]
Rent expense	$ 8,825

STOCKHOLDERS' EQUITY - Addition

STOCKHOLDERS' EQUITY - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Stock Based Compensation And Stockholders Equity [Line Items]
Total compensation expenses	$ 30,514	$ 19,889	$ 18,950
Total unrecognized compensation costs	$ 19,448
Period for recognition of compensation cost not yet recognized	1 year 9 months 21 days
Tax benefits from stock compensation expense	$ 3,532	4,775	4,550
2016 Equity Incentive Plan
Stock Based Compensation And Stockholders Equity [Line Items]
Number of shares authorized under stock option plan	2,000,000
Number of shares available to be granted	652,144
Performance Shares (PSUs) | Share-based Payment Arrangement, Tranche One
Stock Based Compensation And Stockholders Equity [Line Items]
Award vesting rights, minimum percentage of target compensation	50.00%
Performance Shares (PSUs) | Share-based Payment Arrangement, Tranche Three
Stock Based Compensation And Stockholders Equity [Line Items]
Award vesting rights, minimum percentage of target compensation	150.00%
Performance Shares (PSUs) | Minimum | Share-based Payment Arrangement, Tranche Two
Stock Based Compensation And Stockholders Equity [Line Items]
Award vesting rights, minimum percentage of target compensation	50.00%
Performance Shares (PSUs) | Maximum | Share-based Payment Arrangement, Tranche Two
Stock Based Compensation And Stockholders Equity [Line Items]
Award vesting rights, minimum percentage of target compensation	150.00%
Restricted Stock Units (RSUs)
Stock Based Compensation And Stockholders Equity [Line Items]
Total compensation expenses	$ 30,514	19,889	18,950
Fair Value of Vested RSUs	$ 24,226	$ 10,906	$ 13,227

STOCKHOLDERS' EQUITY - Schedule

STOCKHOLDERS' EQUITY - Schedule of Restricted Stock Unit Activity (Detail) - Restricted Stock Units (RSUs) - $ / shares	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Stock Units
Nonvested, beginning of year (in shares)	641,410	451,563	328,431
Granted (in shares)	338,073	407,151	310,924
Vested (in shares)	(255,039)	(206,624)	(167,591)
Forfeited (in shares)	(7,959)	(10,680)	(20,201)
Nonvested, end of year (in shares)	716,485	641,410	451,563
Weighted- Average Grant Date Fair Value
Nonvested, beginning of year, weighted average fair value (in dollars per share)	$ 65.28	$ 91.08	$ 101.97
Granted, weighted average fair value (in dollars per share)	81.41	50.78	79.12
Vested, weighted average fair value (in dollars per share)	76.97	92.87	90.23
Forfeited, weighted average fair value (in dollars per share)	67.90	69.66	91.11
Nonvested, end of year, weighted average fair value (in dollars per share)	$ 68.70	$ 65.28	$ 91.08

REVENUE RECOGNITION (Detail)

REVENUE RECOGNITION (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 12,317,380	$ 8,167,933	$ 7,864,758
Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	12,091,398	8,015,971	7,694,758
Operating Segments | Total North America
Disaggregation of Revenue [Line Items]
Net sales	8,891,319	5,530,580	6,207,780
Operating Segments | North American Towables
Disaggregation of Revenue [Line Items]
Net sales	6,221,928	4,140,482	4,558,451
Operating Segments | North American Motorized
Disaggregation of Revenue [Line Items]
Net sales	2,669,391	1,390,098	1,649,329
Operating Segments | European
Disaggregation of Revenue [Line Items]
Net sales	3,200,079	2,485,391	1,486,978
Operating Segments | Travel Trailers And Other Towables | North American Towables
Disaggregation of Revenue [Line Items]
Net sales	3,791,235	2,449,239	2,710,308
Operating Segments | Fifth Wheels Towables | North American Towables
Disaggregation of Revenue [Line Items]
Net sales	2,430,693	1,691,243	1,848,143
Operating Segments | Class A Motorized | North American Motorized
Disaggregation of Revenue [Line Items]
Net sales	1,052,982	495,520	761,176
Operating Segments | Class C Motorized | North American Motorized
Disaggregation of Revenue [Line Items]
Net sales	1,266,624	776,191	824,449
Operating Segments | Class B Motorized | North American Motorized
Disaggregation of Revenue [Line Items]
Net sales	349,785	118,387	63,704
Operating Segments | Motorcaravan | European
Disaggregation of Revenue [Line Items]
Net sales	1,779,906	1,505,353	960,155
Operating Segments | Campervan | European
Disaggregation of Revenue [Line Items]
Net sales	779,755	433,398	201,089
Operating Segments | Caravan | European
Disaggregation of Revenue [Line Items]
Net sales	292,708	273,475	172,144
Operating Segments | Other RV-related | European
Disaggregation of Revenue [Line Items]
Net sales	347,710	273,165	153,590
Other
Disaggregation of Revenue [Line Items]
Net sales	373,174	234,481	263,374
Intercompany Eliminations
Disaggregation of Revenue [Line Items]
Net sales	$ (147,192)	$ (82,519)	$ (93,374)

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period, net of tax	$ 2,345,569	$ 2,095,228	$ 1,937,741
Total other comprehensive income (loss), net of tax	17,711	83,736	(57,598)
Balance at end of period	2,948,106	2,345,569	2,095,228
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period, net of tax	46,512	(46,484)	0
OCI before reclassifications	7,640	92,996	(44,090)
Income taxes associated with OCI before reclassifications	0	0	(2,394)
Amounts reclassified from AOCI	0	0	0
Income taxes associated with amounts reclassified from AOCI	0	0	0
Total other comprehensive income (loss), net of tax	7,640	92,996
Balance at end of period	54,152	46,512	(46,484)
Unrealized Gain (Loss) on Derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period, net of tax	(18,823)	(9,472)	0
OCI before reclassifications	(1,100)	(20,557)	(12,184)
Income taxes associated with OCI before reclassifications	327	4,906	2,917
Amounts reclassified from AOCI	14,433	8,180	(279)
Income taxes associated with amounts reclassified from AOCI	(3,492)	(1,880)	74
Total other comprehensive income (loss), net of tax	10,168	(9,351)
Balance at end of period	(8,655)	(18,823)	(9,472)
Other
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period, net of tax	(696)	(1,048)	0
OCI before reclassifications	(180)	352	(1,048)
Income taxes associated with OCI before reclassifications	0	0	0
Amounts reclassified from AOCI	0	0	0
Income taxes associated with amounts reclassified from AOCI	0	0	0
Total other comprehensive income (loss), net of tax	(180)	352
Balance at end of period	(876)	(696)	(1,048)
AOCI, net of tax, Attributable to THOR
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period, net of tax	26,993	(57,004)	0
OCI before reclassifications	6,360	72,791	(57,322)
Income taxes associated with OCI before reclassifications	327	4,906	523
Amounts reclassified from AOCI	14,433	8,180	(279)
Income taxes associated with amounts reclassified from AOCI	(3,492)	(1,880)	74
Total other comprehensive income (loss), net of tax	17,628	83,997
Balance at end of period	44,621	26,993	(57,004)
Non-controlling Interests
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period, net of tax	(855)	(594)	0
OCI before reclassifications	83	(261)	(594)
Income taxes associated with OCI before reclassifications	0	0	0
Amounts reclassified from AOCI	0	0	0
Income taxes associated with amounts reclassified from AOCI	0	0	0
Total other comprehensive income (loss), net of tax	83	(261)
Balance at end of period	(772)	(855)	(594)
Total AOCI
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period, net of tax	26,138	(57,598)	0
OCI before reclassifications	6,443	72,530	(57,916)
Income taxes associated with OCI before reclassifications	327	4,906	523
Amounts reclassified from AOCI	14,433	8,180	(279)
Income taxes associated with amounts reclassified from AOCI	(3,492)	(1,880)	74
Total other comprehensive income (loss), net of tax	17,711	83,736
Balance at end of period	$ 43,849	$ 26,138	$ (57,598)

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)	Sep. 01, 2021	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019	Feb. 01, 2019
Subsequent Event [Line Items]
Proceeds from Lines of Credit		$ 225,676,000	$ 379,222,000	$ 100,000,000
Asset Based Credit Facility
Subsequent Event [Line Items]
Maximum borrowing capacity		$ 750,000,000			$ 750,000,000
Subsequent Event | Asset Based Credit Facility
Subsequent Event [Line Items]
Proceeds from Lines of Credit	$ 625,000,000
Maximum borrowing capacity	1,000,000,000
AirX Intermediate Inc. | Subsequent Event
Subsequent Event [Line Items]
Purchase price	$ 750,000,000

Uncategorized Items - tho-20210

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2014-09 [Member]