Thor Industries (THO) 10-Q 1 Dec 14 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Oct. 31, 2014
Document Information [Line Items]	'
Document Type	'10-Q
Amendment Flag	'false
Document Period End Date	31-Oct-14
Document Fiscal Year Focus	'2015
Document Fiscal Period Focus	'Q1
Trading Symbol	'THO
Entity Registrant Name	'THOR INDUSTRIES INC
Entity Central Index Key	'0000730263
Current Fiscal Year End Date	'--07-31
Entity Filer Category	'Large Accelerated Filer
Entity Common Stock, Shares Outstanding	53,388,563

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Oct. 31, 2014	Jul. 31, 2014
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$313,627	$289,336
Accounts receivable, trade, less allowance for doubtful accounts of $339 and $348, respectively	227,245	264,927
Accounts receivable, other	16,678	14,866
Inventories	221,851	216,354
Notes receivable	9,796	1,429
Prepaid income taxes, expenses and other	9,751	5,740
Deferred income taxes, net	52,237	51,397
Total current assets	851,185	844,049
Property, plant and equipment, net	174,664	169,862
Other assets:	'	'
Goodwill	256,579	256,579
Amortizable intangible assets	116,094	119,783
Long-term notes receivable	618	8,992
Other	9,709	9,453
Total other assets	383,000	394,807
TOTAL ASSETS	1,408,849	1,408,718
Current liabilities:	'	'
Accounts payable	147,546	164,619
Accrued liabilities:	'	'
Compensation and related items	45,244	43,888
Product warranties	97,640	94,938
Income and other taxes	8,491	18,468
Promotions and rebates	20,375	17,474
Product, property and related liabilities	13,000	12,928
Other	14,876	18,400
Total current liabilities	347,172	370,715
Unrecognized income tax benefits	19,856	23,689
Deferred income taxes, net	21,405	19,388
Other long-term liabilities	17,650	17,229
Total long-term liabilities	58,911	60,306
Contingent liabilities and commitments	'	'
Stockholders' equity:	'	'
Preferred stock - authorized 1,000,000 shares; none outstanding	'	'
Common stock - par value of $.10 per share; authorized 250,000,000 shares; issued 62,300,037 and 62,210,429 shares, respectively	6,230	6,221
Additional paid-in capital	210,610	208,501
Retained earnings	1,054,941	1,030,428
Less treasury shares of 8,911,474 and 8,880,877, respectively, at cost	-269,015	-267,453
Total stockholders' equity	1,002,766	977,697
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$1,408,849	$1,408,718

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Oct. 31, 2014	Jul. 31, 2014
In Thousands, except Share data, unless otherwise specified
Allowance for doubtful accounts	$339	$348
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value	$0.10	$0.10
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	62,300,037	62,210,429
Treasury, shares	8,911,474	8,880,877

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income and Comprehensive Income (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Oct. 31, 2014	Oct. 31, 2013
Net sales	$921,992	$799,963
Cost of products sold	804,327	694,780
Gross profit	117,665	105,183
Selling, general and administrative expenses	57,989	48,341
Amortization of intangible assets	3,689	2,838
Impairment charges	'	710
Interest income	367	510
Interest expense	'	5
Other income, net	352	642
Income from continuing operations before income taxes	56,706	54,441
Income taxes	17,505	18,047
Net income from continuing operations	39,201	36,394
Income (loss) from discontinued operations, net of income taxes	-276	4,714
Net income	38,925	41,108
Weighted average common shares outstanding:	'	'
Basic	53,336,592	53,205,004
Diluted	53,433,447	53,299,476
Earnings per common share from continuing operations:	'	'
Basic	$0.73	$0.68
Diluted	$0.73	$0.68
Earnings (loss) per common share from discontinued operations:	'	'
Basic	$0	$0.09
Diluted	$0	$0.09
Earnings per common share:	'	'
Basic	$0.73	$0.77
Diluted	$0.73	$0.77
Net income	38,925	41,108
Unrealized appreciation on investments, net of income tax	'	22
Comprehensive income	$38,925	$41,130
Regular Dividend	'	'
Earnings per common share:	'	'
Dividends paid per common share	$0.27	$0.23
Special Dividend	'	'
Earnings per common share:	'	'
Dividends paid per common share	$0	$1

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Oct. 31, 2014	Oct. 31, 2013
Cash flows from operating activities:	'	'
Net income	$38,925	$41,108
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation	3,324	3,414
Amortization of intangible assets	3,689	2,902
Impairment charges	'	710
Deferred income tax provision	1,177	1,266
Gain on disposal of bus business	'	-7,825
(Gain) loss on disposition of property, plant and equipment	-13	34
Stock-based compensation expense	1,565	1,376
Excess tax benefits from stock-based awards	-114	-737
Changes in assets and liabilities (excluding acquisitions and disposition):	'	'
Accounts receivable	35,870	21,110
Inventories	-5,497	-43,288
Prepaid income taxes, expenses and other	-4,267	-1,860
Accounts payable	-13,743	3,916
Accrued liabilities	-7,479	-14,264
Other liabilities	-3,412	-2,009
Net cash provided by operating activities	50,025	5,853
Cash flows from investing activities:	'	'
Purchases of property, plant and equipment	-8,541	-5,131
Proceeds from dispositions of property, plant and equipment	13	65
Proceeds from dispositions of investments	'	700
Proceeds from notes receivable	'	2,700
Proceeds from sale of bus business	'	97,677
Acquisitions, net of cash acquired	-2,915	-33,774
Other	7	219
Net cash provided by (used in) investing activities	-11,436	62,456
Cash flows from financing activities:	'	'
Regular cash dividends paid	-14,412	-12,253
Excess tax benefits from stock-based awards	114	737
Proceeds from issuance of common stock	'	2,293
Payments related to vesting of stock-based awards	'	-705
Net cash used in financing activities	-14,298	-9,928
Net increase in cash and cash equivalents	24,291	58,381
Cash and cash equivalents, beginning of period	289,336	236,601
Cash and cash equivalents, end of period	313,627	294,982
Supplemental cash flow information:	'	'
Income taxes paid	36,246	34,970
Interest paid	'	132
Non-cash transactions:	'	'
Capital expenditures in accounts payable	353	1,518
Other accounts receivable from disposal of bus business	'	8,329
Special dividend payable	'	$53,290

Nature_of_Operations_and_Accou

Nature of Operations and Accounting Policies	3 Months Ended
	Oct. 31, 2014
Nature of Operations and Accounting Policies	'
	1	Nature of Operations and Accounting Policies
	Nature of Operations - Thor Industries, Inc. was founded in 1980 and, through its subsidiaries (the “Company”), manufactures a wide range of recreational vehicles (“RVs”) at various manufacturing facilities located primarily in Indiana and Ohio. These products are sold to independent dealers primarily throughout the United States and Canada. Unless the context otherwise requires or indicates, all references to “Thor”, the “Company”, “we”, “our” and “us” refer to Thor Industries, Inc. and its subsidiaries.
	The Company’s core business activities are comprised of two distinct operations, which include the design, manufacture and sale of both towable recreational vehicles and motorized recreational vehicles. Accordingly, the Company has presented segment financial information for these two segments in Note 4 to the Condensed Consolidated Financial Statements. See Note 3, “Discontinued Operations,” in the Notes to the Condensed Consolidated Financial Statements for a description of the Company’s bus operations which were sold during the three months ended October 31, 2013. Accordingly, the accompanying financial statements (including footnote disclosures unless otherwise indicated) reflect these bus operations as discontinued operations apart from the Company’s continuing recreational vehicle operations.
	The July 31, 2014 amounts are derived from the annual audited financial statements. The interim financial statements are unaudited. In the opinion of management, all adjustments (which consist of normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented have been made. These financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2014. Due to seasonality within the recreational vehicle industry, annualizing the results of operations for the three months ended October 31, 2014 would not necessarily be indicative of the results for a full fiscal year.
	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 reserves for inventory, incurred but not reported medical claims, warranty claims, recall liabilities, workers’ compensation claims, vehicle repurchases, uncertain tax positions, product and non-product litigation and fair value determinations made for both intangible assets acquired and 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.
	Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-08 (“ASU 2014-08”) “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” ASU 2014-08 raises the threshold for a disposal to qualify as a discontinued operation and requires new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation. Under the new guidance, the disposal of a component or group of components of a business will be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. For the Company, ASU 2014-08 is effective for disposals (or classifications as held for sale) of components that first occur after July 31, 2015. Early adoption is permitted, but only for disposals that have not been reported in financial statements previously issued. The impact to the Company will depend on future disposals.
	In May 2014, the FASB issued Accounting Standards Update No. 2014-09 “Revenue from Contracts with Customers (Topic 606),” which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. This standard will supersede most current revenue recognition guidance. Under the new standard, entities are required to identify the contract with a customer, identify the separate performance obligations in the contract, determine the transaction price, allocate the transaction price to the separate performance obligations in the contract and recognize the appropriate amount of revenue when (or as) the entity satisfies each performance obligation. The standard is effective for fiscal years, and the interim periods within those years, beginning on or after December 15, 2016, and is therefore effective for the Company in its fiscal year 2018 beginning on August 1, 2017. Entities have the option of using either retrospective transition or a modified approach in applying the new standard. The Company is currently evaluating the approach it will use to apply the new standard and the impact that the adoption of the new standard will have on the Company’s consolidated financial statements.

Acquisitions

Acquisitions	3 Months Ended
	Oct. 31, 2014
Acquisitions	'
	2	Acquisitions
	K.Z., Inc.
	On May 1, 2014, the Company closed on a Stock Purchase Agreement (“KZ SPA”) for the acquisition of all the outstanding capital stock of towable recreational vehicle manufacturer K.Z., Inc. (“KZ”) for initial cash consideration of $53,405, subject to adjustment, which was funded entirely from the Company’s cash on hand. The final purchase price adjustment of $2,915, included in accounts payable as of July 31, 2014, was based on a final determination of actual net working capital as of the May 1, 2014 closing date and was paid during the first quarter of fiscal 2015. KZ will continue to operate as an independent operation in the same manner as the Company’s existing recreational vehicle subsidiaries and is aggregated within the Company’s towable recreational vehicle reportable segment. The Company purchased KZ to expand its towable recreational vehicle market share and supplement its existing towable RV product offerings and dealer base.
	The following table summarizes the final fair values assigned to the KZ net assets acquired, which are based on internal and independent external valuations:
	Cash		$        996
	Other current assets		34,121
	Property, plant and equipment		15,057
	Dealer network		13,160
	Trademarks		5,540
	Non-compete agreements		450
	Backlog		420
	Goodwill		2,703
	Current liabilities		-16,127
	Total fair value of net assets acquired		56,320
	Less cash acquired		-996
	Total cash consideration for acquisition, less cash acquired		$    55,324
	On the acquisition date, amortizable intangible assets had a weighted average useful life of 13.9 years. The dealer network was valued based on the Discounted Cash Flow Method and is amortized on an accelerated basis over 12 years. The trademarks were valued on the Relief from Royalty Method and are amortized on a straight line basis over 20 years. The non-compete agreements and backlog were both valued based on the Discounted Cash Flow Method, and the non-compete agreements are amortized on a straight line basis over 5 years while the backlog was amortized on a straight line basis over 2 months. Goodwill is deductible for tax purposes.
	Bison Coach
	On October 31, 2013, the Company closed on an Asset Purchase Agreement with Bison Coach, LLC for the acquisition of its net operating assets for initial cash consideration of $16,718, subject to adjustment, which was funded entirely from the Company’s cash on hand. The purchase price adjustment, which was based on a final determination of net assets, was finalized in the third quarter of fiscal 2014 and required an additional cash payment of $196, resulting in total cash consideration of $16,914. As a result of this acquisition, the Company formed a new entity, Bison Coach (“Bison”), which is aggregated within the Company’s towable recreational vehicle reportable segment. The Company purchased the net assets of Bison Coach, LLC to supplement its existing product offerings with Bison’s equestrian products with living quarters.
	The following table summarizes the final fair values assigned to the Bison net assets acquired, which are based on internal and independent external valuations:
	Current assets		$      4,050
	Property, plant and equipment		625
	Dealer network		7,400
	Trademarks		1,800
	Backlog		140
	Goodwill		6,660
	Current liabilities		-3,761
	Total fair value of net assets acquired		$    16,914
	On the acquisition date, amortizable intangible assets had a weighted average useful life of 13.3 years. The dealer network was valued based on the Discounted Cash Flow Method and is amortized on an accelerated cash flow basis over 12 years. The trademarks were valued on the Relief from Royalty Method and are amortized on a straight line basis over 20 years. Backlog was valued based on the Discounted Cash Flow Method and was amortized on a straight line basis over 6 weeks. Goodwill is deductible for tax purposes.
	Livin’ Lite RV, Inc.
	On August 30, 2013, the Company closed on an Asset Purchase Agreement with Livin’ Lite Corp. for the acquisition of its net operating assets for aggregate cash consideration of $16,769, net of cash acquired. The Company paid $17,056 during the first quarter of fiscal 2014 in connection with this acquisition, which was funded entirely from the Company’s cash on hand, and received $287 during the second quarter of fiscal 2014 related to the final settlement of certain closing adjustments. As a result of this acquisition, the Company formed a new entity, Livin’ Lite RV, Inc. (“Livin’ Lite”), which is aggregated within the Company’s towable recreational vehicle reportable segment. The Company purchased the Livin’ Lite Corp. operating assets to expand its recreational vehicle market share and complement its existing brands with Livin’ Lite’s advanced lightweight product offerings.
	The following table summarizes the final fair values assigned to the Livin’ Lite net assets acquired, which are based on internal and independent external valuations:
	Cash		$        247
	Other current assets		3,626
	Property, plant and equipment		137
	Dealer network		3,200
	Trademarks		1,500
	Design technology assets		1,100
	Non-compete agreements		130
	Backlog		110
	Goodwill		9,113
	Current liabilities		-2,147
	Total fair value of net assets acquired		17,016
	Less cash acquired		-247
	Total cash paid for acquisition, less cash acquired		$    16,769
	On the acquisition date, amortizable intangible assets had a weighted average useful life of 10.2 years. The dealer network was valued based on the Discounted Cash Flow Method and is amortized on an accelerated cash flow basis over 8 years. The trademarks were valued on the Relief from Royalty Method and are amortized on a straight line basis over 20 years. The design technology assets were valued on the Relief from Royalty Method and are amortized on a straight line basis over 5 years. The non-compete agreements and backlog were both valued based on the Discounted Cash Flow Method, and the non-compete agreements are amortized on a straight line basis over 2 years while the backlog was amortized on a straight line basis over 6 weeks. Goodwill is deductible for tax purposes.

Discontinued_Operations

Discontinued Operations	3 Months Ended
	Oct. 31, 2014
Discontinued Operations	'
	3	Discontinued Operations
	On July 31, 2013, the Company entered into a Stock Purchase Agreement (“ASV SPA”) to sell its bus business to Allied Specialty Vehicles, Inc. (“ASV”) for cash of $100,000, subject to closing adjustments for changes in the net assets sold from April 30, 2013 to the closing date. The Company’s bus business manufactured and sold transit and shuttle buses. This divestiture has allowed the Company to focus on the strategic development and growth of its core recreational vehicle business.
	The sale was completed as of October 20, 2013 and the Company received $100,000 on October 21, 2013, which, after considering closing date cash on hand at the bus subsidiaries of $2,323, resulted in initial net cash consideration of $97,677. Under the terms of the ASV SPA, the total final cash consideration to be received was subject to adjustment based on changes in the carrying value of the net assets of the bus business between April 30, 2013 and October 20, 2013. As of October 31, 2013, additional cash consideration to be received in connection with this sale was estimated to be $8,329.
	During the second quarter of fiscal 2014, the amount of the final net asset adjustment was determined through the completion of a post-close audit, and the remaining cash consideration was received. Based on the final agreed-upon carrying value of the bus business net assets sold as of October 20, 2013, an additional $5,043 was collected from ASV, representing the increase in bus net assets from April 30, 2013 to the October 20, 2013 sale date. In addition, the Company was also reimbursed by ASV for the $2,323 of bus cash on hand at the time of the sale. As a result, final net cash consideration received for the sale of the bus business totaled $105,043.
	The Company recorded a preliminary pre-tax gain on the bus business sale of $7,825 in the first quarter of fiscal 2014 and a $746 unfavorable adjustment in the second quarter of fiscal 2014 based on the completion of the post-close audit, resulting in a final pre-tax gain of $7,079. The results of operations for the bus business, including the gain on the sale of the bus business, have been reported as discontinued operations in the Condensed Consolidated Statements of Income and Comprehensive Income for all periods presented.
	The following table summarizes the results of discontinued operations:
			Three Months Ended
			October 31,
	Discontinued Operations:		2014		2013
	Net sales		$	–	$	83,903
	Operating loss of discontinued operations		$	(435)	$	-3,433
	Pre-tax gain on disposal of discontinued business			–		7,825
	Income (loss) before income taxes			-435		4,392
	Income tax benefit			-159		-322
	Income (loss) from discontinued operations, net of taxes		$	-276	$	4,714
	Operating loss of discontinued operations during the three months ended October 31, 2014 reflects expenses incurred directly related to the former bus operations, including ongoing costs related to liabilities retained by the Company under the ASV SPA for bus product liability and worker’s compensation claims occurring prior to the closing date of the sale.
	As a result of the sale of the bus business, and in accordance with the ASV SPA, the Company is no longer the primary obligor to the taxing authorities for bus operations in certain states. As a result, the Company eliminated certain reserves associated with uncertain tax positions resulting in a net tax benefit of $1,883, which is included in the discontinued operations income tax benefit of $322 for the three months ended October 31, 2013. Under the terms of the sale, the Company has agreed to indemnify ASV for any claims made by the taxing authorities after the date of sale for these uncertain tax positions, but does not expect future losses under this guarantee to be material.

Business_Segments

Business Segments	3 Months Ended
	Oct. 31, 2014
Business Segments	'
	4	Business Segments
	The Company has two reportable segments: (1) towable recreational vehicles and (2) motorized recreational vehicles. The towables recreational vehicle reportable segment consists of the following operating segments that have been aggregated: Airstream (towable), CrossRoads, Keystone, Heartland, Livin’ Lite, Bison and KZ. The motorized recreational vehicle reportable segment consists of the following operating segments that have been aggregated: Airstream (motorized) and Thor Motor Coach.
	All manufacturing is conducted in the United States. Total assets include those assets used in the operation of each reportable segment. Corporate assets primarily consist of cash and cash equivalents and deferred income tax assets.
			Three Months Ended
			October  31,
			2014		2013
	Net sales:
	Recreational vehicles:
	Towables		$	699,778	$	622,853
	Motorized			222,214		177,110
	Total		$	921,992	$	799,963
			Three Months Ended
			October  31,
			2014		2013
	Income (loss) from continuing operations
	before income taxes:
	Recreational vehicles:
	Towables		$	49,299	$	45,624
	Motorized			15,101		13,443
	Total recreational vehicles			64,400		59,067
	Corporate			-7,694		-4,626
	Total		$	56,706	$	54,441
			October 31, 2014		July 31, 2014
	Total assets:
	Recreational vehicles:
	Towables		$	843,083	$	868,017
	Motorized			161,239		170,251
	Total recreational vehicles			1,004,322		1,038,268
	Corporate			404,527		370,450
	Total		$	1,408,849	$	1,408,718

Earnings_Per_Common_Share

Earnings Per Common Share	3 Months Ended
	Oct. 31, 2014
Earnings Per Common Share	'
	5	Earnings Per Common Share
			Three Months Ended
			October 31,
			2014		2013
	Weighted average common shares outstanding for basic earnings per share			53,336,592		53,205,004
	Stock options, unvested restricted stock and restricted stock units			96,855		94,472
	Weighted average common shares outstanding for diluted earnings per share			53,433,447		53,299,476
	The Company excludes stock options, unvested restricted stock and restricted stock units that have an antidilutive effect from its calculation of weighted average shares outstanding assuming dilution. At October 31, 2014 and 2013, the Company had 39,523 and 106,959, respectively, of stock options, unvested restricted stock and restricted stock units outstanding which were excluded from this calculation as their effect would be antidilutive.

Inventories

Inventories	3 Months Ended
	Oct. 31, 2014
Inventories	'
	6	Inventories
	Major classifications of inventories are:
			October 31, 2014		July 31, 2014
	Raw materials		$	127,822	$	122,150
	Chassis			41,357		45,231
	Work in process			49,068		49,537
	Finished goods			31,592		27,424
	Total			249,839		244,342
	Excess of FIFO costs over LIFO costs			-27,988		-27,988
	Total inventories		$	221,851	$	216,354
	Of the $249,839 and $244,342 of inventories at October 31, 2014 and July 31, 2014, all but $43,710 and $36,096, respectively, at certain subsidiaries were valued on a last-in, first-out basis. The $43,710 and $36,096 of inventories were valued on a first-in, first-out method.

Property_Plant_and_Equipment

Property, Plant and Equipment	3 Months Ended
	Oct. 31, 2014
Property, Plant and Equipment	'
	7	Property, Plant and Equipment
	Property, plant and equipment is stated at cost, net of accumulated depreciation, and consists of the following:
			October 31, 2014		July 31, 2014
	Land		$	23,464	$	21,592
	Buildings and improvements			180,779		175,611
	Machinery and equipment			75,153		76,298
	Total cost			279,396		273,501
	Less accumulated depreciation			-104,732		-103,639
	Property, plant and equipment, net		$	174,664	$	169,862
	During the first quarter of fiscal 2014, the Company determined it was more likely than not that certain long-lived assets, consisting of certain RV facilities, would be sold or altered before the end of their previously estimated useful life. Therefore, the Company performed impairment assessments over these facilities using a discounted cash flow model and Level 3 inputs as defined by ASC 820 to determine whether an impairment existed. As a result of these assessments, a non-cash impairment charge of $710 was recognized in the quarter ended October 31, 2013.

Intangible_Assets_and_Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Oct. 31, 2014
Intangible Assets and Goodwill	'
	8	Intangible Assets and Goodwill
	The components of amortizable intangible assets are as follows:
			Weighted Average		October 31, 2014				July 31, 2014
			Remaining Life
			in Years at		Cost		Accumulated		Cost		Accumulated
			October 31, 2014				Amortization				Amortization
	Dealer networks		9		$	90,760	$	29,642	$	90,760	$	27,102
	Trademarks		20			43,882		5,947		43,882		5,479
	Design technology and other		10			22,400		6,541		23,070		6,775
	intangibles
	Non-compete agreements		2			4,710		3,528		4,710		3,283
	Total amortizable intangible assets				$	161,752	$	45,658	$	162,422	$	42,639
	Dealer networks are primarily amortized on an accelerated basis. Trademarks, design technology and other intangibles and non-compete agreements are amortized on a straight-line basis.
	Estimated annual amortization expense is as follows:
	For the fiscal year ending July 31, 2015		$	14,452
	For the fiscal year ending July 31, 2016			13,213
	For the fiscal year ending July 31, 2017			12,399
	For the fiscal year ending July 31, 2018			11,650
	For the fiscal year ending July 31, 2019			10,661
	For the fiscal year ending July 31, 2020			9,918
	For the fiscal year ending July 31, 2021 and thereafter			47,490
			$	119,783
	All of the recorded goodwill of $256,579 at October 31, 2014 and July 31, 2014 resides in the towable recreational vehicle segment.
	Goodwill is not subject to amortization, but instead is reviewed for impairment by applying a fair-value based test to the Company’s reporting units on an annual basis as of April 30, or more frequently if events or circumstances indicate a potential impairment. The Company’s reporting units are the same as its operating segments, which are identified in Note 4 to the Condensed Consolidated Financial Statements. Fair values are generally determined by a discounted cash flow model. These estimates are subject to significant management judgment, including the determination of many factors such as sales growth rates, gross margin patterns, cost growth rates, terminal value assumptions and discount rates, and therefore largely represent Level 3 inputs as defined by ASC 820. Changes in these estimates can have a significant impact on the determination of cash flows and fair value and could potentially result in future material impairments.

Concentration_of_Risk

Concentration of Risk	3 Months Ended
	Oct. 31, 2014
Concentration of Risk	'
	9	Concentration of Risk
	One dealer, FreedomRoads, LLC (“FreedomRoads”), accounted for 14% and 18% of the Company’s continuing consolidated net sales for the three months ended October 31, 2014 and the three months ended October 31, 2013, respectively. This dealer also accounted for 11% of the Company’s consolidated trade accounts receivable at October 31, 2014 and 21% at July 31, 2014. The loss of this dealer could have a significant effect on the Company’s business.

Loan_Transactions_and_Related_

Loan Transactions and Related Notes Receivable	3 Months Ended
	Oct. 31, 2014
Loan Transactions and Related Notes Receivable	'
	10	Loan Transactions and Related Notes Receivable
	In January 2009, we entered into two credit agreements, for $10,000 each, with Stephen Adams, in his individual capacity, and Stephen Adams and his successors, as trustee under the Stephen Adams Living Trust (the “Trust” and, together with each of the foregoing persons, the “January 2009 Loan Borrowers”). The final principal and interest payments on the first agreement were received in the second quarter of fiscal 2014 and the final principal and interest payments on the second agreement were received in fiscal 2012.
	In December 2009, we entered into a $10,000 credit agreement with Marcus Lemonis, Stephen Adams, in his individual capacity, and Stephen Adams and his successors, as trustee under the Trust (collectively, the “December 2009 Loan Borrowers”), and later modified in December 2012, pursuant to which $7,400 of original principal is outstanding as of October 31, 2014 with the final payment due on August 30, 2015. All payments of principal and interest due to date have been paid in full.
	The January 2009 and December 2009 Loan Borrowers own, directly or indirectly, a controlling interest in FreedomRoads Holding Company, LLC, the parent company of FreedomRoads, the Company’s largest dealer.

Investments_and_Fair_Value_Mea

Investments and Fair Value Measurements	3 Months Ended
	Oct. 31, 2014
Investments and Fair Value Measurements	'
	11	Investments and 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. 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 Company carries at fair value its investments in securities (primarily in mutual funds) held for the benefit of certain employees of the Company as part of a deferred compensation plan - measured with Level 1 inputs. Deferred compensation plan asset balances of $9,360 and $8,973 were recorded as of October 31, 2014 and July 31, 2014, respectively, as components of other long-term assets in the Condensed Consolidated Balance Sheets. An equal and offsetting liability was also recorded in regards to the deferred compensation plan as a component of other long-term liabilities in the Condensed Consolidated Balance Sheets. Changes in the fair value of the plan assets and the related liability are both reflected in the Condensed Consolidated Statements of Income and Comprehensive Income.

Product_Warranties

Product Warranties	3 Months Ended
	Oct. 31, 2014
Product Warranties	'
	12	Product Warranties
	The Company generally provides retail customers of its products with a one-year warranty covering defects in material or workmanship, with longer warranties of up to five years 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 units sold, existing dealer inventory, average cost incurred and a profile of the distribution of warranty expenditures over the warranty period. Management believes that the warranty reserves are adequate. However, actual claims incurred could differ from estimates, requiring adjustments to the reserves. Warranty reserves are reviewed and adjusted as necessary on at least a quarterly basis.
	Changes in our product warranty reserves are as follows:
			Three Months Ended
			October  31,
			2014		2013
	Beginning balance		$	94,938	$	84,250
	Provision			29,461		22,492
	Payments			(26,759)		(20,821)
	Acquisitions			–		609
	Ending balance		$	97,640	$	86,530

Provision_for_Income_Taxes

Provision for Income Taxes	3 Months Ended
	Oct. 31, 2014
Provision for Income Taxes	'
	13	Provision for Income Taxes
	The objectives of accounting for income taxes are to recognize the amount of taxes payable or refundable for the current period and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in the Company’s 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. Fluctuations in the actual outcome of these tax consequences could materially impact 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 probability of various possible outcomes must be determined. These uncertain tax positions are re-evaluated 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.
	The overall effective income tax rate for the three months ended October 31, 2014 was 30.9% compared with 33.1% for the three months ended October 31, 2013. The primary reason for the decrease in the effective income tax rate was the larger amount of uncertain tax benefits that settled favorably during the three months ended October 31, 2014 as compared to the three months ended October 31, 2013.
	It is the Company’s policy to recognize interest and penalties accrued relative to unrecognized tax benefits in income tax expense. For the three months ended October 31, 2014, the Company released $4,506 of gross uncertain tax positions and related interest and penalties recorded at July 31, 2014 related to the effective settlement of various uncertain tax positions, which resulted in a net income tax benefit of $2,387. The Company accrued $146 in interest and penalties related to the remaining uncertain tax positions recorded at July 31, 2014.
	The Company anticipates a decrease of $2,560 in unrecognized tax benefits, and $385 in accrued interest and penalties related to unrecognized tax benefits recorded as of October 31, 2014 within the next 12 months from expected settlements or payments of uncertain tax positions and lapses of the applicable statutes of limitations. In addition, the Company is currently in the process of pursuing a variety of settlement alternatives with taxing authorities. It is reasonably possible that some of these settlements could be finalized in the next 12 months. If these settlements are finalized within the next 12 months, the gross unrecognized tax benefits may decrease between $100 and $2,700 and the related accrued interest and penalties may decrease between $150 and $1,200. It is reasonably possible that some of these settlements will result in cash payments by the Company. Actual results may differ from these estimates.
	Generally, fiscal years 2012 and 2013 remain open for federal income tax purposes and fiscal years 2011, 2012 and 2013 remain open for state and foreign income tax purposes. The Company and its subsidiaries file a consolidated U.S. federal income tax return and multiple state income tax returns. The Company is currently being audited by the state of Indiana for tax years ended July 31, 2008, 2009 and 2010, the state of Illinois for tax years ended July 31, 2011 and 2012 and the state of Oregon for tax years ended July 31, 2011, 2012 and 2013. The Company believes it has adequately reserved for its exposure to additional payments for uncertain tax positions related to its Indiana, Illinois and Oregon income tax returns in its liability for unrecognized tax benefits.

Contingent_Liabilities_and_Com

Contingent Liabilities and Commitments	3 Months Ended
	Oct. 31, 2014
Contingent Liabilities and Commitments	'
	14	Contingent Liabilities and Commitments
	The Company is contingently liable under terms of repurchase agreements with financial institutions providing inventory financing for certain dealers of certain of its products. These arrangements, which are customary in the industry, provide for the repurchase of products sold to dealers in the event of default by the dealer on the agreement to pay the financial institution. The repurchase price is generally determined by the original sales price of the product and pre-defined 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, we 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 been insignificant in relation to our repurchase obligation with financial institutions.
	The Company’s total commercial commitment under standby repurchase obligations on dealer inventory financing at October 31, 2014 is $1,239,808. The commitment term is primarily 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 $4,347 and $3,948 as of October 31, 2014 and July 31, 2014, respectively, which are included in other current liabilities on the Condensed Consolidated Balance Sheets.
	The table below reflects losses incurred related to repurchase agreements that were settled in the periods noted. 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.
			Three Months Ended
			October  31,
			2014		2013
	Cost of units repurchased		$	1,645	$	123
	Realization of units resold			1,440		101
	Losses due to repurchase		$	205	$	22
	Legal Matters
	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.

Stockholders_Equity

Stockholders' Equity	3 Months Ended
	Oct. 31, 2014
Stockholders' Equity	'
	15	Stockholders’ Equity
	Stock-Based Compensation
	During fiscal 2013, the Compensation and Development Committee of the Board (“the Committee”) approved a program to award restricted stock units to certain employees at the operating subsidiary and corporate levels. The first awards under this program were granted in the first quarter of fiscal 2013 related to fiscal 2012 performance. The Committee approved additional awards that were granted in fiscal 2014 related to fiscal year 2013 performance and approved additional awards that were granted in fiscal 2015 related to fiscal 2014 performance. The employee restricted stock units vest, and shares of common stock will be issued, in equal installments on the first, second and third anniversaries of the date of grant. Starting in fiscal 2013, and again in fiscal 2014 and fiscal 2015, the Nominating and Governance Committee of the Board 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. Total expense recognized in the three months ended October 31, 2014 and October 31, 2013 for these restricted stock unit awards and other stock based compensation was $1,565 and $1,376, respectively, which included $0 and $480, respectively, related to discontinued operations.
	For the restricted stock units that vested during the three month periods ended October 31, 2014, a certain portion of the vested shares awarded were withheld as treasury shares to cover the recipients’ estimated withholding taxes. The total related taxes of $1,562 to be paid by the Company on behalf of the award recipients is included in accrued compensation and related items as of October 31, 2014 in the Condensed Consolidated Balance Sheet and is expected to be paid in the second quarter of fiscal 2015.
	Retained Earnings
	The components of the change in retained earnings are as follows:
	Balance as of July 31, 2014		$	1,030,428
	Net income			38,925
	Dividends declared and paid			(14,412	)
	Balance as of October 31, 2014		$	1,054,941
	The dividends declared and paid total of $14,412 represents the regular quarterly dividend of $0.27 per share.

Nature_of_Operations_and_Accou1

Nature of Operations and Accounting Policies (Policies)	3 Months Ended
	Oct. 31, 2014
Nature of Operations	'
	Nature of Operations - Thor Industries, Inc. was founded in 1980 and, through its subsidiaries (the “Company”), manufactures a wide range of recreational vehicles (“RVs”) at various manufacturing facilities located primarily in Indiana and Ohio. These products are sold to independent dealers primarily throughout the United States and Canada. Unless the context otherwise requires or indicates, all references to “Thor”, the “Company”, “we”, “our” and “us” refer to Thor Industries, Inc. and its subsidiaries.
	The Company’s core business activities are comprised of two distinct operations, which include the design, manufacture and sale of both towable recreational vehicles and motorized recreational vehicles. Accordingly, the Company has presented segment financial information for these two segments in Note 4 to the Condensed Consolidated Financial Statements. See Note 3, “Discontinued Operations,” in the Notes to the Condensed Consolidated Financial Statements for a description of the Company’s bus operations which were sold during the three months ended October 31, 2013. Accordingly, the accompanying financial statements (including footnote disclosures unless otherwise indicated) reflect these bus operations as discontinued operations apart from the Company’s continuing recreational vehicle operations.
	The July 31, 2014 amounts are derived from the annual audited financial statements. The interim financial statements are unaudited. In the opinion of management, all adjustments (which consist of normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented have been made. These financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2014. Due to seasonality within the recreational vehicle industry, annualizing the results of operations for the three months ended October 31, 2014 would not necessarily be indicative of the results for a full fiscal year.
	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 reserves for inventory, incurred but not reported medical claims, warranty claims, recall liabilities, workers’ compensation claims, vehicle repurchases, uncertain tax positions, product and non-product litigation and fair value determinations made for both intangible assets acquired and 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.
Accounting Pronouncements	'
	Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-08 (“ASU 2014-08”) “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” ASU 2014-08 raises the threshold for a disposal to qualify as a discontinued operation and requires new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation. Under the new guidance, the disposal of a component or group of components of a business will be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. For the Company, ASU 2014-08 is effective for disposals (or classifications as held for sale) of components that first occur after July 31, 2015. Early adoption is permitted, but only for disposals that have not been reported in financial statements previously issued. The impact to the Company will depend on future disposals.
	In May 2014, the FASB issued Accounting Standards Update No. 2014-09 “Revenue from Contracts with Customers (Topic 606),” which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. This standard will supersede most current revenue recognition guidance. Under the new standard, entities are required to identify the contract with a customer, identify the separate performance obligations in the contract, determine the transaction price, allocate the transaction price to the separate performance obligations in the contract and recognize the appropriate amount of revenue when (or as) the entity satisfies each performance obligation. The standard is effective for fiscal years, and the interim periods within those years, beginning on or after December 15, 2016, and is therefore effective for the Company in its fiscal year 2018 beginning on August 1, 2017. Entities have the option of using either retrospective transition or a modified approach in applying the new standard. The Company is currently evaluating the approach it will use to apply the new standard and the impact that the adoption of the new standard will have on the Company’s consolidated financial statements.

Acquisitions_Tables

Acquisitions (Tables)	3 Months Ended
	Oct. 31, 2014
K.Z. Inc.	'
Summary of Final Fair Value Assigned to Assets Acquired	'
	The following table summarizes the final fair values assigned to the KZ net assets acquired, which are based on internal and independent external valuations:
	Cash	$        996
	Other current assets	34,121
	Property, plant and equipment	15,057
	Dealer network	13,160
	Trademarks	5,540
	Non-compete agreements	450
	Backlog	420
	Goodwill	2,703
	Current liabilities	-16,127
	Total fair value of net assets acquired	56,320
	Less cash acquired	-996
	Total cash consideration for acquisition, less cash acquired	$    55,324
Bison	'
Summary of Final Fair Value Assigned to Assets Acquired	'
	The following table summarizes the final fair values assigned to the Bison net assets acquired, which are based on internal and independent external valuations:
	Current assets	$      4,050
	Property, plant and equipment	625
	Dealer network	7,400
	Trademarks	1,800
	Backlog	140
	Goodwill	6,660
	Current liabilities	-3,761
	Total fair value of net assets acquired	$    16,914
Livin' Lite	'
Summary of Final Fair Value Assigned to Assets Acquired	'
	The following table summarizes the final fair values assigned to the Livin’ Lite net assets acquired, which are based on internal and independent external valuations:
	Cash	$        247
	Other current assets	3,626
	Property, plant and equipment	137
	Dealer network	3,200
	Trademarks	1,500
	Design technology assets	1,100
	Non-compete agreements	130
	Backlog	110
	Goodwill	9,113
	Current liabilities	-2,147
	Total fair value of net assets acquired	17,016
	Less cash acquired	-247
	Total cash paid for acquisition, less cash acquired	$    16,769

Discontinued_Operations_Tables

Discontinued Operations (Tables)	3 Months Ended
	Oct. 31, 2014
Operating Results of Discontinued Operations	'
	The following table summarizes the results of discontinued operations:
		Three Months Ended
		October 31,
	Discontinued Operations:	2014		2013
	Net sales	$	–	$	83,903
	Operating loss of discontinued operations	$	(435)	$	-3,433
	Pre-tax gain on disposal of discontinued business		–		7,825
	Income (loss) before income taxes		-435		4,392
	Income tax benefit		-159		-322
	Income (loss) from discontinued operations, net of taxes	$	-276	$	4,714

Business_Segments_Tables

Business Segments (Tables)	3 Months Ended
	Oct. 31, 2014
Schedule of Segment Reporting Information by Segment	'
		Three Months Ended
		October  31,
		2014		2013
	Net sales:
	Recreational vehicles:
	Towables	$	699,778	$	622,853
	Motorized		222,214		177,110
	Total	$	921,992	$	799,963
		Three Months Ended
		October  31,
		2014		2013
	Income (loss) from continuing operations
	before income taxes:
	Recreational vehicles:
	Towables	$	49,299	$	45,624
	Motorized		15,101		13,443
	Total recreational vehicles		64,400		59,067
	Corporate		-7,694		-4,626
	Total	$	56,706	$	54,441
		October 31, 2014		July 31, 2014
	Total assets:
	Recreational vehicles:
	Towables	$	843,083	$	868,017
	Motorized		161,239		170,251
	Total recreational vehicles		1,004,322		1,038,268
	Corporate		404,527		370,450
	Total	$	1,408,849	$	1,408,718

Earnings_Per_Common_Share_Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Oct. 31, 2014
Schedule of Earnings Per Common Share	'
		Three Months Ended
		October 31,
		2014		2013
	Weighted average common shares outstanding for basic earnings per share		53,336,592		53,205,004
	Stock options, unvested restricted stock and restricted stock units		96,855		94,472
	Weighted average common shares outstanding for diluted earnings per share		53,433,447		53,299,476

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Oct. 31, 2014
Schedule of Major Classifications of Inventories	'
	Major classifications of inventories are:
		October 31, 2014		July 31, 2014
	Raw materials	$	127,822	$	122,150
	Chassis		41,357		45,231
	Work in process		49,068		49,537
	Finished goods		31,592		27,424
	Total		249,839		244,342
	Excess of FIFO costs over LIFO costs		-27,988		-27,988
	Total inventories	$	221,851	$	216,354

Property_Plant_and_Equipment_T

Property, Plant and Equipment (Tables)	3 Months Ended
	Oct. 31, 2014
Property, Plant and Equipment	'
	Property, plant and equipment is stated at cost, net of accumulated depreciation, and consists of the following:
		October 31, 2014		July 31, 2014
	Land	$	23,464	$	21,592
	Buildings and improvements		180,779		175,611
	Machinery and equipment		75,153		76,298
	Total cost		279,396		273,501
	Less accumulated depreciation		-104,732		-103,639
	Property, plant and equipment, net	$	174,664	$	169,862

Intangible_Assets_and_Goodwill1

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Oct. 31, 2014
Components of Amortizable Intangible Assets	'
	The components of amortizable intangible assets are as follows:
		Weighted Average		October 31, 2014				July 31, 2014
		Remaining Life
		in Years at		Cost		Accumulated		Cost		Accumulated
		October 31, 2014				Amortization				Amortization
	Dealer networks	9		$	90,760	$	29,642	$	90,760	$	27,102
	Trademarks	20			43,882		5,947		43,882		5,479
	Design technology and other	10			22,400		6,541		23,070		6,775
	intangibles
	Non-compete agreements	2			4,710		3,528		4,710		3,283
	Total amortizable intangible assets			$	161,752	$	45,658	$	162,422	$	42,639
Estimated Amortization Expense	'
	Estimated annual amortization expense is as follows:
	For the fiscal year ending July 31, 2015	$	14,452
	For the fiscal year ending July 31, 2016		13,213
	For the fiscal year ending July 31, 2017		12,399
	For the fiscal year ending July 31, 2018		11,650
	For the fiscal year ending July 31, 2019		10,661
	For the fiscal year ending July 31, 2020		9,918
	For the fiscal year ending July 31, 2021 and thereafter		47,490
		$	119,783

Product_Warranties_Tables

Product Warranties (Tables)	3 Months Ended
	Oct. 31, 2014
Schedule of Changes in Product Warranty Liabilities	'
	Changes in our product warranty reserves are as follows:
		Three Months Ended
		October  31,
		2014		2013
	Beginning balance	$	94,938	$	84,250
	Provision		29,461		22,492
	Payments		(26,759)		(20,821)
	Acquisitions		–		609
	Ending balance	$	97,640	$	86,530

Contingent_Liabilities_and_Com1

Contingent Liabilities and Commitments (Tables)	3 Months Ended
	Oct. 31, 2014
Losses Due to Repurchases Related to Repurchase Agreements	'
	The table below reflects losses incurred related to repurchase agreements that were settled in the periods noted. 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.
		Three Months Ended
		October  31,
		2014		2013
	Cost of units repurchased	$	1,645	$	123
	Realization of units resold		1,440		101
	Losses due to repurchase	$	205	$	22

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	3 Months Ended
	Oct. 31, 2014
Schedule of Change in Retained Earnings	'
	The components of the change in retained earnings are as follows:
	Balance as of July 31, 2014	$	1,030,428
	Net income		38,925
	Dividends declared and paid		(14,412	)
	Balance as of October 31, 2014	$	1,054,941

Nature_of_Operations_and_Accou2

Nature of Operations and Accounting Policies - Additional Information (Detail)	3 Months Ended
	Oct. 31, 2014
	Segment
Summary Of Significant Accounting Policies [Line Items]	'
Number of reportable segments	2

Acquisitions_Additional_Inform

Acquisitions - Additional Information (Detail) (USD $)

0 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

In Thousands, unless otherwise specified

Oct. 31, 2013

Aug. 30, 2013

Oct. 31, 2014

Oct. 31, 2013

1-May-14

Oct. 31, 2013

Apr. 30, 2014

Aug. 30, 2013

Oct. 31, 2013

Jan. 31, 2014

1-May-14

Oct. 31, 2013

Aug. 30, 2013

Oct. 31, 2014

1-May-14

Oct. 31, 2013

Aug. 30, 2013

Oct. 31, 2014

1-May-14

Aug. 30, 2013

Oct. 31, 2014

1-May-14

Oct. 31, 2013

Aug. 30, 2013

Oct. 31, 2014

Aug. 30, 2013

Oct. 31, 2014

K.Z. Inc.

Bison

Bison

Livin' Lite

Livin' Lite

Livin' Lite

Dealer Networks

Dealer Networks

Dealer Networks

Dealer Networks

Trademarks

Trademarks

Trademarks

Trademarks

Non-Compete Agreements

Non-Compete Agreements

Non-Compete Agreements

Backlog

Backlog

Backlog

Backlog

Design Technology Assets

Design Technology Assets

Business Acquisition [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Payment to acquire business

'

'

'

'

$53,405

$16,718

$16,914

'

$17,056

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Purchase price adjustment

'

'

'

'

2,915

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Asset purchase agreement date

'

'

'

'

1-May-14

31-Oct-13

'

30-Aug-13

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amortizable intangible assets, weighted average useful life

'13 years 3 months 18 days

'10 years 2 months 12 days

'

'

'13 years 10 months 24 days

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Intangible assets amortization period

'

'

'

'

'

'

'

'

'

'

'12 years

'12 years

'8 years

'9 years

'20 years

'20 years

'20 years

'20 years

'5 years

'2 years

'2 years

'2 months

'42 days

'42 days

'

'5 years

'

Amortizable intangible assets, amortization method

'

'

'

'

'

'

'

'

'

'

'

'

'

'Accelerated cash flow basis

'

'

'

'Straight line basis

'

'

'Straight line basis

'

'

'

'Straight line basis

'

'Straight line basis

Additional cash payment

'

'

'

'

'

'

196

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Payment to acquire business, net

'

'

2,915

33,774

55,324

'

'

16,769

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Business acquisition, cash due from escrow

'

'

'

'

'

'

'

'

'

$287

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Summary_of_Final_Fair_Value_As

Summary of Final Fair Value Assigned to Net Assets Acquired (Detail) (USD $)

3 Months Ended

0 Months Ended

0 Months Ended

In Thousands, unless otherwise specified

Oct. 31, 2014

Oct. 31, 2013

Jul. 31, 2014

Oct. 31, 2013

Oct. 31, 2013

Oct. 31, 2013

Oct. 31, 2013

Aug. 30, 2013

Aug. 30, 2013

Aug. 30, 2013

Aug. 30, 2013

Aug. 30, 2013

Aug. 30, 2013

Aug. 30, 2013

1-May-14

1-May-14

1-May-14

1-May-14

1-May-14

1-May-14

Bison

Bison

Bison

Bison

Livin' Lite

Livin' Lite

Livin' Lite

Livin' Lite

Livin' Lite

Livin' Lite

Livin' Lite

K.Z. Inc.

K.Z. Inc.

K.Z. Inc.

K.Z. Inc.

K.Z. Inc.

K.Z. Inc.

Dealer Networks

Trademarks

Backlog

Dealer Networks

Trademarks

Backlog

Design Technology Assets

Non-Compete Agreements

Dealer Networks

Trademarks

Backlog

Non-Compete Agreements

Business Acquisition [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cash

'

'

'

'

'

'

'

'

$247

'

'

'

'

'

'

$996

'

'

'

'

Current assets

'

'

'

4,050

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Other current assets

'

'

'

'

'

'

'

'

3,626

'

'

'

'

'

'

34,121

'

'

'

'

Property, plant and equipment

'

'

'

625

'

'

'

'

137

'

'

'

'

'

'

15,057

'

'

'

'

Business acquisition allocated to amortizing intangible asset

'

'

'

'

7,400

1,800

140

'

'

3,200

1,500

110

1,100

130

'

'

13,160

5,540

420

450

Goodwill

256,579

'

256,579

6,660

'

'

'

'

9,113

'

'

'

'

'

'

2,703

'

'

'

'

Current liabilities

'

'

'

-3,761

'

'

'

'

-2,147

'

'

'

'

'

'

-16,127

'

'

'

'

Total fair value of net assets acquired

'

'

'

16,914

'

'

'

'

17,016

'

'

'

'

'

'

56,320

'

'

'

'

Less cash acquired

'

'

'

'

'

'

'

-247

'

'

'

'

'

'

-996

'

'

'

'

'

Total cash consideration for acquisition, less cash acquired

$2,915

$33,774

'

'

'

'

'

$16,769

'

'

'

'

'

'

$55,324

'

'

'

'

'

Discontinued_Operations_Additi

Discontinued Operations - Additional Information (Detail) (USD $)	0 Months Ended		3 Months Ended			12 Months Ended
In Thousands, unless otherwise specified	Oct. 31, 2013	Oct. 21, 2013	Oct. 31, 2014	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'	'	'
Proceeds from sale of bus business	'	$100,000	'	'	$97,677	$105,043
Proceeds from sale of bus business, net of cash divested	'	'	'	'	'	97,677
Sale of bus business, cash divested	'	'	'	'	'	2,323
Discontinued operation, total amounts due from ASV	8,329	'	'	'	'	'
Discontinued operation, amounts collected from ASV	'	'	'	'	'	5,043
Pre-tax gain (loss) on sale of business	'	'	'	-746	7,825	7,079
Impact of indemnification to tax expenses	'	'	'	'	1,883	'
Income tax benefit (expense)	'	'	$159	'	$322	'

Operating_Results_of_Discontin

Operating Results of Discontinued Operations (Detail) (USD $)	3 Months Ended			12 Months Ended
In Thousands, unless otherwise specified	Oct. 31, 2014	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2014
Discontinued Operations:	'	'	'	'
Net sales	'	'	$83,903	'
Operating loss of discontinued operations	-435	'	-3,433	'
Pre-tax gain on disposal of discontinued business	'	-746	7,825	7,079
Income (loss) before income taxes	-435	'	4,392	'
Income tax benefit	-159	'	-322	'
Income (loss) from discontinued operations, net of taxes	($276)	'	$4,714	'

Business_Segments_Additional_I

Business Segments - Additional Information (Detail)	3 Months Ended
	Oct. 31, 2014
	Segment
Segment Reporting Information [Line Items]	'
Number of reportable segments	2

Schedule_of_Segment_Reporting_

Schedule of Segment Reporting Information by Segment (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Oct. 31, 2014	Oct. 31, 2013
Segment Reporting Information [Line Items]	'	'
Net sales	$921,992	$799,963
Income (loss) from continuing operations before income taxes	56,706	54,441
Recreation Vehicles	'	'
Segment Reporting Information [Line Items]	'	'
Income (loss) from continuing operations before income taxes	64,400	59,067
Recreation Vehicles | Towables	'	'
Segment Reporting Information [Line Items]	'	'
Income (loss) from continuing operations before income taxes	49,299	45,624
Recreation Vehicles | Motorized	'	'
Segment Reporting Information [Line Items]	'	'
Income (loss) from continuing operations before income taxes	15,101	13,443
Corporate	'	'
Segment Reporting Information [Line Items]	'	'
Income (loss) from continuing operations before income taxes	-7,694	-4,626
Continuing Operations | Recreation Vehicles	'	'
Segment Reporting Information [Line Items]	'	'
Net sales	921,992	799,963
Continuing Operations | Recreation Vehicles | Towables	'	'
Segment Reporting Information [Line Items]	'	'
Net sales	699,778	622,853
Continuing Operations | Recreation Vehicles | Motorized	'	'
Segment Reporting Information [Line Items]	'	'
Net sales	$222,214	$177,110

Schedule_of_Segment_Reporting_1

Schedule of Segment Reporting Information, by Segment Balance Sheet Item (Detail) (USD $)	Oct. 31, 2014	Jul. 31, 2014
In Thousands, unless otherwise specified
Segment Reporting Information [Line Items]	'	'
Total assets	$1,408,849	$1,408,718
Continuing Operations | Recreation Vehicles	'	'
Segment Reporting Information [Line Items]	'	'
Total assets	1,004,322	1,038,268
Continuing Operations | Recreation Vehicles | Towables	'	'
Segment Reporting Information [Line Items]	'	'
Total assets	843,083	868,017
Continuing Operations | Recreation Vehicles | Motorized	'	'
Segment Reporting Information [Line Items]	'	'
Total assets	161,239	170,251
Continuing Operations | Corporate	'	'
Segment Reporting Information [Line Items]	'	'
Total assets	$404,527	$370,450

Earnings_Per_Common_Share_Deta

Earnings Per Common Share (Detail)	3 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
Earnings Per Share Disclosure [Line Items]	'	'
Weighted average common shares outstanding for basic earnings per share	53,336,592	53,205,004
Stock options, unvested restricted stock and restricted stock units	96,855	94,472
Weighted average common shares outstanding for diluted earnings per share	53,433,447	53,299,476

Earnings_Per_Common_Share_Addi

Earnings Per Common Share - Additional Information (Detail)	3 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive stock options, unvested restricted stock and restricted stock units outstanding	39,523	106,959

Schedule_of_Major_Classificati

Schedule of Major Classifications of Inventories (Detail) (USD $)	Oct. 31, 2014	Jul. 31, 2014
In Thousands, unless otherwise specified
Inventory [Line Items]	'	'
Raw materials	$127,822	$122,150
Chassis	41,357	45,231
Work in process	49,068	49,537
Finished goods	31,592	27,424
Total	249,839	244,342
Excess of FIFO costs over LIFO costs	-27,988	-27,988
Total inventories	$221,851	$216,354

Inventories_Additional_Informa

Inventories - Additional Information (Detail) (USD $)	Oct. 31, 2014	Jul. 31, 2014
In Thousands, unless otherwise specified
Inventory [Line Items]	'	'
Inventory	$249,839	$244,342
Subsidiaries valued inventory in first-in, first-out method	$43,710	$36,096

Property_Plant_and_Equipment_D

Property, Plant and Equipment (Detail) (USD $)	Oct. 31, 2014	Jul. 31, 2014
In Thousands, unless otherwise specified
Property, Plant and Equipment [Line Items]	'	'
Land	$23,464	$21,592
Buildings and improvements	180,779	175,611
Machinery and equipment	75,153	76,298
Total cost	279,396	273,501
Less accumulated depreciation	-104,732	-103,639
Property, plant and equipment, net	$174,664	$169,862

Property_Plant_and_Equipment_A

Property, Plant and Equipment - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Oct. 31, 2013
Property, Plant and Equipment [Line Items]	'
Non-cash impairment charge	$710

Components_of_Amortizable_Inta

Components of Amortizable Intangible Assets (Detail) (USD $)	0 Months Ended			3 Months Ended
In Thousands, unless otherwise specified	1-May-14	Oct. 31, 2013	Aug. 30, 2013	Oct. 31, 2014	Jul. 31, 2014
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'
Cost	'	'	'	$161,752	$162,422
Accumulated Amortization	'	'	'	45,658	42,639
Dealer Networks	'	'	'	'	'
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'
Weighted Average Remaining Life in Years	'12 years	'12 years	'8 years	'9 years	'
Cost	'	'	'	90,760	90,760
Accumulated Amortization	'	'	'	29,642	27,102
Non-Compete Agreements	'	'	'	'	'
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'
Weighted Average Remaining Life in Years	'5 years	'	'2 years	'2 years	'
Cost	'	'	'	4,710	4,710
Accumulated Amortization	'	'	'	3,528	3,283
Trademarks	'	'	'	'	'
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'
Weighted Average Remaining Life in Years	'20 years	'20 years	'20 years	'20 years	'
Cost	'	'	'	43,882	43,882
Accumulated Amortization	'	'	'	5,947	5,479
Design Technology And Other Intangibles	'	'	'	'	'
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'
Weighted Average Remaining Life in Years	'	'	'	'10 years	'
Cost	'	'	'	22,400	23,070
Accumulated Amortization	'	'	'	$6,541	$6,775

Estimated_Amortization_Expense

Estimated Amortization Expense (Detail) (USD $)	Oct. 31, 2014	Jul. 31, 2014
In Thousands, unless otherwise specified
Expected Amortization Expense [Line Items]	'	'
Estimated annual amortization expense, For the fiscal year ending July 31, 2015	'	$14,452
Estimated annual amortization expense, For the fiscal year ending July 31, 2016	'	13,213
Estimated annual amortization expense, For the fiscal year ending July 31, 2017	'	12,399
Estimated annual amortization expense, For the fiscal year ending July 31, 2018	'	11,650
Estimated annual amortization expense, For the fiscal year ending July 31, 2019	'	10,661
Estimated annual amortization expense, For the fiscal year ending July 31, 2020	'	9,918
Estimated annual amortization expense, For the fiscal year ending July 31, 2021 and thereafter	'	47,490
Estimated annual amortization expense, Total	$116,094	$119,783

Intangible_Assets_and_Goodwill2

Intangible Assets and Goodwill - Additional Information (Detail) (USD $)	Oct. 31, 2014	Jul. 31, 2014
In Thousands, unless otherwise specified
Goodwill And Other Intangible Assets [Line Items]	'	'
Goodwill	$256,579	$256,579

Concentration_of_Risk_Addition

Concentration of Risk - Additional Information (Detail) (Freedom Roads, LLC)	3 Months Ended			12 Months Ended
	Oct. 31, 2014	Oct. 31, 2013	Oct. 31, 2014	Jul. 31, 2014
	Net Sales	Net Sales	Accounts Receivable	Accounts Receivable
Concentration Risk [Line Items]	'	'	'	'
Concentration risk percentage	14.00%	18.00%	11.00%	21.00%

Loan_Transactions_and_Related_1

Loan Transactions and Related Notes Receivable - Additional Information (Detail) (USD $)	Jan. 31, 2009	Jan. 31, 2009	Oct. 31, 2014	Dec. 31, 2009
In Thousands, unless otherwise specified	First Credit Agreement	Second Credit Agreement	Third Credit Agreement	Third Credit Agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'
Loan amount	$10,000	$10,000	$7,400	$10,000
Notes receivable, maturity	'	'	30-Aug-15	'

Investments_and_Fair_Value_Mea1

Investments and Fair Value Measurements - Additional Information (Detail) (Level 1, USD $)	Oct. 31, 2014	Jul. 31, 2014
In Thousands, unless otherwise specified
Level 1	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Investments under employees deferred compensation plan	$9,360	$8,973

Product_Warranties_Additional_

Product Warranties - Additional Information (Detail)	3 Months Ended
	Oct. 31, 2014
Product Warranty [Line Items]	'
Warranty period for retail customers, years	'1 year

Schedule_of_Changes_in_Product

Schedule of Changes in Product Warranty Liabilities for Continuing Operations (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Oct. 31, 2014	Oct. 31, 2013
Product Warranty	'	'
Beginning balance	$94,938	$84,250
Provision	29,461	22,492
Payments	-26,759	-20,821
Acquisitions	'	609
Ending balance	$97,640	$86,530

Provision_for_Income_Taxes_Add

Provision for Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
Income Tax [Line Items]	'	'
Maximum percentage of tax benefits realized upon ultimate settlement	50.00%	'
Effective income tax rate	30.90%	33.10%
Decreases in unrecognized tax benefits resulting from effective settlement	$4,506	'
Income tax benefit related to gross uncertain tax benefit releases, net	2,387	'
Interest and penalties related to uncertain tax benefits	146	'
Expected decrease in unrecognized tax benefits due to resolution of uncertain tax positions	2,560,000	'
Expected decrease in interest and penalties due to resolution of uncertain tax positions	385,000	'
Minimum	'	'
Income Tax [Line Items]	'	'
Expected gross unrecognized tax benefits decrease	100,000	'
Expected decrease in interest and penalties	150,000	'
Maximum	'	'
Income Tax [Line Items]	'	'
Expected gross unrecognized tax benefits decrease	2,700,000	'
Expected decrease in interest and penalties	$1,200,000	'

Contingent_Liabilities_and_Com2

Contingent Liabilities and Commitments - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Oct. 31, 2014	Jul. 31, 2014
Loss Contingencies [Line Items]	'	'
Standby Repurchase Obligations Amount	$1,239,808	'
Term of Commitments	'Up to eighteen months	'
Repurchase and guarantee reserve balances	$4,347	$3,948

Losses_Due_to_Repurchases_Rela

Losses Due to Repurchases Related to Repurchase Agreements (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Oct. 31, 2014	Oct. 31, 2013
Loss Contingencies [Line Items]	'	'
Cost of units repurchased	$1,645	$123
Realization of units resold	1,440	101
Losses due to repurchase	$205	$22

Stockholders_Equity_Additional

Stockholders' Equity - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Oct. 31, 2014	Oct. 31, 2013	Jul. 31, 2014
Stock Based Compensation And Stockholders Equity [Line Items]	'	'	'
Stock-based compensation	$1,565	$1,376	'
Withholding taxes payable	45,244	'	43,888
Dividends declared and paid	14,412	'	'
Regular Dividend	'	'	'
Stock Based Compensation And Stockholders Equity [Line Items]	'	'	'
Dividends declared and paid per common share	$0.27	'	'
Dividends declared and paid	14,412	'	'
Discontinued Operations	'	'	'
Stock Based Compensation And Stockholders Equity [Line Items]	'	'	'
Total compensation expenses	0	480	'
Restricted Stock	'	'	'
Stock Based Compensation And Stockholders Equity [Line Items]	'	'	'
Withholding taxes payable	$1,562	'	'

Schedule_of_Change_in_Retained

Schedule of Change in Retained Earnings (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Oct. 31, 2014	Oct. 31, 2013
Retained Earnings Adjustments [Line Items]	'	'
Beginning Balance	$1,030,428	'
Net income	38,925	41,108
Dividends declared and paid	-14,412	'
Ending Balance	$1,054,941	'