Thor Industries (THO) 10-Q 5 Mar 15 2015 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jan. 31, 2015	Feb. 28, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Jan-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Trading Symbol	THO
Entity Registrant Name	THOR INDUSTRIES INC
Entity Central Index Key	730263
Current Fiscal Year End Date	-24
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		53,389,563

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Jan. 31, 2015	Jul. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$248,256	$289,336
Accounts receivable, trade, less allowance for doubtful accounts of $365 and $348, respectively	266,715	264,927
Accounts receivable, other	22,056	14,866
Inventories	244,417	216,354
Notes receivable	8,555	1,429
Prepaid income taxes, expenses and other	16,176	5,740
Deferred income taxes, net	54,365	51,397
Total current assets	860,540	844,049
Property, plant and equipment, net	183,157	169,862
Other assets:
Goodwill	269,180	256,579
Amortizable intangible assets	132,477	119,783
Long-term notes receivable	609	8,992
Other	9,820	9,453
Total other assets	412,086	394,807
TOTAL ASSETS	1,455,783	1,408,718
Current liabilities:
Accounts payable	177,954	164,619
Accrued liabilities:
Compensation and related items	41,593	43,888
Product warranties	102,048	94,938
Income and other taxes	7,770	18,468
Promotions and rebates	18,224	17,474
Product, property and related liabilities	15,276	12,928
Other	15,077	18,400
Total current liabilities	377,942	370,715
Unrecognized income tax benefits	20,532	23,689
Deferred income taxes, net	20,677	19,388
Other long-term liabilities	17,979	17,229
Total long-term liabilities	59,188	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 62,301,037 and 62,210,429 shares, respectively	6,230	6,221
Additional paid-in capital	212,261	208,501
Retained earnings	1,069,177	1,030,428
Less treasury shares of 8,911,474 and 8,880,877, respectively, at cost	-269,015	-267,453
Total stockholders' equity	1,018,653	977,697
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$1,455,783	$1,408,718

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Jan. 31, 2015	Jul. 31, 2014
In Thousands, except Share data, unless otherwise specified
Allowance for doubtful accounts	$365	$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	62,301,037	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		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2014	Jan. 31, 2015	Jan. 31, 2014
Net sales	$852,416	$635,330	$1,774,408	$1,435,293
Cost of products sold	750,416	565,003	1,554,743	1,259,783
Gross profit	102,000	70,327	219,665	175,510
Selling, general and administrative expenses	54,302	43,766	112,291	92,107
Amortization of intangible assets	3,967	3,226	7,656	6,064
Impairment charges				710
Interest income	340	391	707	901
Interest expense	1	2	1	7
Other income, net	67	178	419	820
Income from continuing operations before income taxes	44,137	23,902	100,843	78,343
Income taxes	13,870	6,684	31,375	24,731
Net income from continuing operations	30,267	17,218	69,468	53,612
Income (loss) from discontinued operations, net of income taxes	-1,619	-1,026	-1,895	3,688
Net income	28,648	16,192	67,573	57,300
Weighted average common shares outstanding:
Basic	53,377,440	53,289,626	53,355,757	53,247,315
Diluted	53,458,531	53,353,027	53,444,730	53,326,251
Earnings per common share from continuing operations:
Basic	$0.57	$0.32	$1.30	$1.01
Diluted	$0.57	$0.32	$1.30	$1.01
Earnings (loss) per common share from discontinued operations:
Basic	($0.03)	($0.02)	($0.03)	$0.07
Diluted	($0.03)	($0.02)	($0.04)	$0.06
Earnings per common share:
Basic	$0.54	$0.30	$1.27	$1.08
Diluted	$0.54	$0.30	$1.26	$1.07
Net income	28,648	16,192	67,573	57,300
Unrealized appreciation on investments, net of income tax				22
Comprehensive income	$28,648	$16,192	$67,573	$57,322
Regular Dividend
Earnings per common share:
Dividends paid per common share	$0.27	$0.23	$0.54	$0.46
Special Dividend
Earnings per common share:
Dividends paid per common share	$0	$1	$0	$1

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2014
Cash flows from operating activities:
Net income	$67,573	$57,300
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	6,788	6,393
Amortization of intangible assets	7,656	6,128
Impairment charges		710
Deferred income tax provision (benefit)	-1,679	4,102
Gain on disposal of bus business		-7,079
Gain on disposition of property, plant and equipment	-78	-40
Stock-based compensation expense	3,327	2,648
Excess tax benefits from stock-based awards	-114	-796
Changes in assets and liabilities (excluding acquisitions and disposition):
Accounts receivable	-17	30,249
Inventories	-15,477	-67,997
Prepaid income taxes, expenses and other	-10,391	-14,550
Accounts payable	10,120	-7,159
Accrued liabilities	-12,139	-22,772
Other liabilities	-2,407	-4,982
Net cash provided by (used in) operating activities	53,162	-17,845
Cash flows from investing activities:
Purchases of property, plant and equipment	-16,161	-12,671
Proceeds from dispositions of property, plant and equipment	41	561
Proceeds from dispositions of investments		700
Proceeds from notes receivable	1,400	6,425
Proceeds from sale of bus business		100,000
Acquisitions, net of cash acquired	-49,265	-33,487
Other	15	340
Net cash provided by (used in) investing activities	-63,970	61,868
Cash flows from financing activities:
Regular cash dividends paid	-28,824	-24,510
Special cash dividend paid		-53,290
Excess tax benefits from stock-based awards	114	796
Proceeds from issuance of common stock		2,491
Payments related to vesting of stock-based awards	-1,562	-1,251
Net cash used in financing activities	-30,272	-75,764
Net decrease in cash and cash equivalents	-41,080	-31,741
Cash and cash equivalents, beginning of period	289,336	236,601
Cash and cash equivalents, end of period	248,256	204,860
Supplemental cash flow information:
Income taxes paid	59,547	54,698
Interest paid	1	132
Non-cash transactions:
Capital expenditures in accounts payable	220	811
Other accounts receivable from disposal of bus business		$5,043

Nature_of_Operations_and_Accou

Nature of Operations and Accounting Policies	6 Months Ended
	Jan. 31, 2015
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 six months ended January 31, 2015 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	6 Months Ended
	Jan. 31, 2015
Acquisitions	2	Acquisitions
	Cruiser RV, LLC and DRV, LLC
	On January 5, 2015, the Company closed on a Stock Purchase Agreement (“CRV/DRV SPA”) for the acquisition of all the outstanding membership units of towable recreational vehicle manufacturer Cruiser RV, LLC (“CRV”) and luxury fifth wheel towable recreational vehicle manufacturer DRV, LLC (“DRV”) through its Heartland Recreational Vehicles, LLC subsidiary (“Heartland”). In accordance with the CRV/DRV SPA, the closing was deemed effective as of January 1, 2015. As contemplated in the CRV/DRV SPA, the Company also acquired, in a series of integrated transactions, certain real estate used in the ongoing operations of CRV and DRV. The initial cash consideration for this acquisition was $47,412, subject to adjustment, and was funded entirely from the Company’s cash on hand. The total cash consideration to be paid is subject to the final determination of the actual net working capital as of the close of business on December 31, 2014, which is expected to be finalized later in fiscal 2015. The Company purchased CRV and DRV to expand its towable recreational vehicle market share and to supplement and expand its existing lightweight travel trailer and luxury fifth wheel product offerings and dealer base.
	The following table summarizes the preliminary fair values assigned to the CRV and DRV net assets acquired, subject to the finalization of internal and independent external valuations:
	Cash		$	1,062
	Other current assets			22,099
	Property, plant and equipment			4,500
	Dealer network			14,500
	Trademarks			5,400
	Backlog			450
	Goodwill			12,601
	Current liabilities			(13,200	)
	Total fair value of net assets acquired			47,412
	Less cash acquired			(1,062	)
	Total cash consideration for acquisition, less cash acquired		$	46,350
	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 will be amortized on an accelerated basis over 12 years. The trademarks were valued on the Relief from Royalty Method and will be amortized on a straight line basis over 20 years. Backlog was valued based on the Discounted Cash Flow Method and will be amortized on a straight line basis over 6 weeks. Goodwill is deductible for tax purposes.
	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 operates 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, which was funded entirely from the Company’s cash on hand. 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	6 Months Ended
	Jan. 31, 2015
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. Under the terms of the ASV SPA, the total 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. The amount of the final net asset adjustment was determined through the completion of a post-close audit during the second quarter of fiscal 2014. 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 due from ASV and subsequently collected in February 2014, representing the increase in bus net assets since April 30, 2013. 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				Six Months Ended
			January 31,				January 31,
	Discontinued Operations:		2015		2014		2015		2014
	Net sales		$	—	$	—	$	—	$	83,903
	Operating loss of discontinued operations		$	-2,564	$	-1,131	$	-2,999	$	-4,564
	Pre-tax gain (loss) on disposal of discontinued business			—		-746		—		7,079
	Income (loss) before income taxes			-2,564		-1,877		-2,999		2,515
	Income tax benefit			-945		-851		-1,104		-1,173
	Income (loss) from discontinued operations, net of taxes		$	-1,619	$	-1,026	$	-1,895	$	3,688
	The operating loss of discontinued operations for the three and six months ended January 31, 2015 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 $1,173 for the six months ended January 31, 2014. 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	6 Months Ended
	Jan. 31, 2015
Business Segments	4	Business Segments
	The Company has two reportable segments: (1) towable recreational vehicles and (2) motorized recreational vehicles. The towable recreational vehicle reportable segment consists of the following operating segments that have been aggregated: Airstream (towable), Bison, CrossRoads, Heartland (including its wholly owned subsidiaries CRV and DRV), Keystone, KZ and Livin’ Lite. 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						Six Months Ended
			January 31,						January 31,
			2015			2014			2015			2014
	Net sales:
	Recreational vehicles:
	Towables		$	675,090		$	472,474		$	1,374,868		$	1,095,327
	Motorized			177,326			162,856			399,540			339,966
	Total		$	852,416		$	635,330		$	1,774,408		$	1,435,293
			Three Months Ended						Six Months Ended
			January 31,						January 31,
			2015			2014			2015			2014
	Income (loss) from continuing operations before income taxes:
	Recreational vehicles:
	Towables		$	40,320		$	18,915		$	89,619		$	64,539
	Motorized			11,867			11,193			26,968			24,636
	Total recreational vehicles			52,187			30,108			116,587			89,175
	Corporate			(8,050	)		(6,206	)		(15,744	)		(10,832	)
	Total		$	44,137		$	23,902		$	100,843		$	78,343
									January 31, 2015			July 31, 2014
	Total assets:
	Recreational vehicles:
	Towables								$	932,530		$	868,017
	Motorized									175,456			170,251
	Total recreational vehicles									1,107,986			1,038,268
	Corporate									347,797			370,450
	Total								$	1,455,783		$	1,408,718

Earnings_Per_Common_Share

Earnings Per Common Share	6 Months Ended
	Jan. 31, 2015
Earnings Per Common Share	5	Earnings Per Common Share
			Three Months Ended				Six Months Ended
			January 31,				January 31,
			2015		2014		2015		2014
	Weighted average common shares outstanding for basic earnings per share			53,377,440		53,289,626		53,355,757		53,247,315
	Stock options, unvested restricted stock and restricted stock units			81,091		63,401		88,973		78,936
	Weighted average common shares outstanding for diluted earnings per share			53,458,531		53,353,027		53,444,730		53,326,251
	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 January 31, 2015 and 2014, the Company had 14,048 and 12,064, 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	6 Months Ended
	Jan. 31, 2015
Inventories	6	Inventories
	Major classifications of inventories are:
			January 31, 2015			July 31, 2014
	Raw materials		$	131,915		$	122,150
	Chassis			51,947			45,231
	Work in process			51,411			49,537
	Finished goods			38,067			27,424
	Total			273,340			244,342
	Excess of FIFO costs over LIFO costs			(28,923	)		(27,988	)
	Total inventories		$	244,417		$	216,354
	Of the $273,340 and $244,342 of inventories at January 31, 2015 and July 31, 2014, all but $51,588 and $36,096, respectively, at certain subsidiaries were valued on a last-in, first-out basis. The $51,588 and $36,096 of inventories were valued on a first-in, first-out method.

Property_Plant_and_Equipment

Property, Plant and Equipment	6 Months Ended
	Jan. 31, 2015
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:
			January 31, 2015			July 31, 2014
	Land		$	24,541		$	21,592
	Buildings and improvements			188,738			175,611
	Machinery and equipment			77,046			76,298
	Total cost			290,325			273,501
	Less accumulated depreciation			(107,168	)		(103,639	)
	Property, plant and equipment, net		$	183,157		$	169,862
	During the quarter ended October 31, 2013, 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	6 Months Ended
	Jan. 31, 2015
Intangible Assets and Goodwill	8	Intangible Assets and Goodwill
	The components of amortizable intangible assets are as follows:
			Weighted		January 31, 2015				July 31, 2014
			Average Remaining
			Life in Years at
			January 31, 2015		Cost		Accumulated		Cost		Accumulated
							Amortization				Amortization
	Dealer networks		9		$	105,260	$	32,137	$	90,760	$	27,102
	Trademarks		20			49,282		6,438		43,882		5,479
	Design technology and other intangibles		10			22,850		7,277		23,070		6,775
	Non-compete agreements		2			4,710		3,773		4,710		3,283
	Total amortizable intangible assets				$	182,102	$	49,625	$	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. The increase in amortizable intangible assets since July 31, 2014 is due to the acquisition of CRV and DRV, as more fully described in Note 2 to the Condensed Consolidated Financial Statements.
	Estimated annual amortization expense is as follows:
	For the fiscal year ending July 31, 2015		$	15,238
	For the fiscal year ending July 31, 2016			15,161
	For the fiscal year ending July 31, 2017			15,123
	For the fiscal year ending July 31, 2018			14,057
	For the fiscal year ending July 31, 2019			12,687
	For the fiscal year ending July 31, 2020			11,614
	For the fiscal year ending July 31, 2021 and thereafter			56,253
			$	140,133
	The change in the carrying value of goodwill from July 31, 2014 to January 31, 2015 is as follows:
	Balance at July 31, 2014		$	256,579
	Acquisition of towables business			12,601
	Balance at January 31, 2015		$	269,180
	All of the recorded goodwill at January 31, 2015 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 generally 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	6 Months Ended
	Jan. 31, 2015
Concentration of Risk	9	Concentration of Risk
	One dealer, FreedomRoads, LLC (“FreedomRoads”), accounted for 14% and 16% of the Company’s continuing consolidated net sales for the six months ended January 31, 2015 and the six months ended January 31, 2014, respectively. This dealer also accounted for 17% of the Company’s consolidated trade accounts receivable at January 31, 2015 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	6 Months Ended
	Jan. 31, 2015
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 $6,000 of original principal is outstanding as of January 31, 2015 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	6 Months Ended
	Jan. 31, 2015
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 $9,495 and $8,973 were recorded as of January 31, 2015 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	6 Months Ended
	Jan. 31, 2015
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						Six Months Ended
			January 31,						January 31,
			2015			2014			2015			2014
	Beginning balance		$	97,640		$	86,530		$	94,938		$	84,250
	Provision			26,769			18,701			56,230			41,193
	Payments			(27,025	)		(21,097	)		(53,784	)		(41,918	)
	Acquisitions			4,664			—			4,664			609
	Ending balance		$	102,048		$	84,134		$	102,048		$	84,134

Provision_for_Income_Taxes

Provision for Income Taxes	6 Months Ended
	Jan. 31, 2015
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 January 31, 2015 was 31.4% compared with 28.0% for the three months ended January 31, 2014. The primary reason for the increase in the effective income tax rate is due to uncertain tax benefits that settled favorably in the three months ended January 31, 2014 while no such settlements occurred in the three months ended January 31, 2015. For the three months ended January 31, 2015, the Company recorded a tax benefit from the retroactive reinstatement of the federal research and development credit and other credits that were enacted on December 19, 2014.
	The overall effective income tax rate for the six months ended January 31, 2015 was 31.1% compared with 31.6% for the six months ended January 31, 2014. The primary reason for the decrease in the effective income tax rate was the retroactive reinstatement of the federal research and development credit and other credits that occurred during the six months ended January 31, 2015. In addition, the effective income tax rates for the fiscal 2014 and fiscal 2015 periods were both impacted, to a similar extent, by various uncertain tax benefits that settled favorably.
	It is the Company’s policy to recognize interest and penalties accrued relative to unrecognized tax benefits in income tax expense. For the six months ended January 31, 2015, 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 $293 in interest and penalties related to the remaining uncertain tax positions recorded at July 31, 2014 and recorded $90 of additional uncertain tax benefit reserve related to previous tax periods. For the three months ended January 31, 2015, the Company recorded $90 of additional uncertain tax benefit reserve related to previous tax periods and accrued $147 in interest and penalties.
	The Company anticipates a decrease of approximately $2,560 in unrecognized tax benefits, and $385 in accrued interest and penalties related to unrecognized tax benefits recorded as of January 31, 2015, 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 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 and the state of Illinois for tax years ended July 31, 2011 and 2012. During the three months ended January 31, 2015, the Company settled its Oregon audit for July 31, 2011, 2012 and 2013 for a nominal amount. The Company believes it has adequately reserved for its potential exposure to additional payments for uncertain tax positions related to its Indiana and Illinois income tax returns in its liability for unrecognized tax benefits.

Contingent_Liabilities_and_Com

Contingent Liabilities and Commitments	6 Months Ended
	Jan. 31, 2015
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 commitments under standby repurchase obligations on dealer inventory financing as of January 31, 2015 and July 31, 2014 were $1,496,008 and $1,226,650, respectively. 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 $4,690 and $3,948 as of January 31, 2015 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				Six Months Ended
			January  31,				January 31,
			2015		2014		2015		2014
	Cost of units repurchased		$	4,582	$	326	$	6,227	$	449
	Realization of units resold			3,721		289		5,161		390
	Losses due to repurchase		$	861	$	37	$	1,066	$	59
	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	6 Months Ended
	Jan. 31, 2015
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 January 31, 2015 and January 31, 2014 for these restricted stock unit awards and other stock based compensation was $1,762 and $1,272, respectively, related entirely to continuing operations in both periods. Total expense recognized in the six months ended January 31, 2015 and January 31, 2014 for these restricted stock unit awards and other stock based compensation was $3,327 and $2,648, respectively, which included $0 and $480, respectively, related to discontinued operations.
	For the restricted stock units that vested during the six month periods ended January 31, 2015 and January 31, 2014, a certain portion of the vested shares awarded were withheld as treasury shares to cover the recipients’ estimated withholding taxes. Tax payments made by the Company related to stock-based awards for the six months ended January 31, 2015 and January 31, 2014 totaled $1,562 and $1,251, respectively.
	Retained Earnings
	The components of the change in retained earnings are as follows:
	Balance as of July 31, 2014		$	1,030,428
	Net income			67,573
	Dividends declared and paid			(28,824	)
	Balance as of January 31, 2015		$	1,069,177
	The dividends declared and paid total of $28,824 represents the regular quarterly dividend of $0.27 per share for each of the first two quarters of fiscal 2015.

Nature_of_Operations_and_Accou1

Nature of Operations and Accounting Policies (Policies)	6 Months Ended
	Jan. 31, 2015
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 six months ended January 31, 2015 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)	6 Months Ended
	Jan. 31, 2015
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
Cruiser RV, LLC and DRV, LLC
Summary of Final Fair Value Assigned to Assets Acquired	The following table summarizes the preliminary fair values assigned to the CRV and DRV net assets acquired, subject to the finalization of internal and independent external valuations:
	Cash	$	1,062
	Other current assets		22,099
	Property, plant and equipment		4,500
	Dealer network		14,500
	Trademarks		5,400
	Backlog		450
	Goodwill		12,601
	Current liabilities		(13,200	)
	Total fair value of net assets acquired		47,412
	Less cash acquired		(1,062	)
	Total cash consideration for acquisition, less cash acquired	$	46,350

Discontinued_Operations_Tables

Discontinued Operations (Tables)	6 Months Ended
	Jan. 31, 2015
Operating Results of Discontinued Operations	The following table summarizes the results of discontinued operations:
		Three Months Ended				Six Months Ended
		January 31,				January 31,
	Discontinued Operations:	2015		2014		2015		2014
	Net sales	$	—	$	—	$	—	$	83,903
	Operating loss of discontinued operations	$	-2,564	$	-1,131	$	-2,999	$	-4,564
	Pre-tax gain (loss) on disposal of discontinued business		—		-746		—		7,079
	Income (loss) before income taxes		-2,564		-1,877		-2,999		2,515
	Income tax benefit		-945		-851		-1,104		-1,173
	Income (loss) from discontinued operations, net of taxes	$	-1,619	$	-1,026	$	-1,895	$	3,688

Business_Segments_Tables

Business Segments (Tables)	6 Months Ended
	Jan. 31, 2015
Schedule of Segment Reporting Information by Segment	Three Months Ended						Six Months Ended
	January 31,						January 31,
		2015			2014			2015			2014
	Net sales:
	Recreational vehicles:
	Towables	$	675,090		$	472,474		$	1,374,868		$	1,095,327
	Motorized		177,326			162,856			399,540			339,966
	Total	$	852,416		$	635,330		$	1,774,408		$	1,435,293
		Three Months Ended						Six Months Ended
		January 31,						January 31,
		2015			2014			2015			2014
	Income (loss) from continuing operations before income taxes:
	Recreational vehicles:
	Towables	$	40,320		$	18,915		$	89,619		$	64,539
	Motorized		11,867			11,193			26,968			24,636
	Total recreational vehicles		52,187			30,108			116,587			89,175
	Corporate		(8,050	)		(6,206	)		(15,744	)		(10,832	)
	Total	$	44,137		$	23,902		$	100,843		$	78,343
								January 31, 2015			July 31, 2014
	Total assets:
	Recreational vehicles:
	Towables							$	932,530		$	868,017
	Motorized								175,456			170,251
	Total recreational vehicles								1,107,986			1,038,268
	Corporate								347,797			370,450
	Total							$	1,455,783		$	1,408,718

Earnings_Per_Common_Share_Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Jan. 31, 2015
Schedule of Earnings Per Common Share		Three Months Ended				Six Months Ended
		January 31,				January 31,
		2015		2014		2015		2014
	Weighted average common shares outstanding for basic earnings per share		53,377,440		53,289,626		53,355,757		53,247,315
	Stock options, unvested restricted stock and restricted stock units		81,091		63,401		88,973		78,936
	Weighted average common shares outstanding for diluted earnings per share		53,458,531		53,353,027		53,444,730		53,326,251

Inventories_Tables

Inventories (Tables)	6 Months Ended
	Jan. 31, 2015
Schedule of Major Classifications of Inventories	Major classifications of inventories are:
		January 31, 2015			July 31, 2014
	Raw materials	$	131,915		$	122,150
	Chassis		51,947			45,231
	Work in process		51,411			49,537
	Finished goods		38,067			27,424
	Total		273,340			244,342
	Excess of FIFO costs over LIFO costs		(28,923	)		(27,988	)
	Total inventories	$	244,417		$	216,354

Property_Plant_and_Equipment_T

Property, Plant and Equipment (Tables)	6 Months Ended
	Jan. 31, 2015
Property, Plant and Equipment	Property, plant and equipment is stated at cost, net of accumulated depreciation, and consists of the following:
		January 31, 2015			July 31, 2014
	Land	$	24,541		$	21,592
	Buildings and improvements		188,738			175,611
	Machinery and equipment		77,046			76,298
	Total cost		290,325			273,501
	Less accumulated depreciation		(107,168	)		(103,639	)
	Property, plant and equipment, net	$	183,157		$	169,862

Intangible_Assets_and_Goodwill1

Intangible Assets and Goodwill (Tables)	6 Months Ended
	Jan. 31, 2015
Components of Amortizable Intangible Assets	The components of amortizable intangible assets are as follows:
		Weighted		January 31, 2015				July 31, 2014
		Average Remaining
		Life in Years at
		January 31, 2015		Cost		Accumulated		Cost		Accumulated
						Amortization				Amortization
	Dealer networks	9		$	105,260	$	32,137	$	90,760	$	27,102
	Trademarks	20			49,282		6,438		43,882		5,479
	Design technology and other intangibles	10			22,850		7,277		23,070		6,775
	Non-compete agreements	2			4,710		3,773		4,710		3,283
	Total amortizable intangible assets			$	182,102	$	49,625	$	162,422	$	42,639
Estimated Amortization Expense	Estimated annual amortization expense is as follows:
	For the fiscal year ending July 31, 2015	$	15,238
	For the fiscal year ending July 31, 2016		15,161
	For the fiscal year ending July 31, 2017		15,123
	For the fiscal year ending July 31, 2018		14,057
	For the fiscal year ending July 31, 2019		12,687
	For the fiscal year ending July 31, 2020		11,614
	For the fiscal year ending July 31, 2021 and thereafter		56,253
		$	140,133
Schedule of Change in Carrying Value in Goodwill
	The change in the carrying value of goodwill from July 31, 2014 to January 31, 2015 is as follows:
	Balance at July 31, 2014	$	256,579
	Acquisition of towables business		12,601
	Balance at January 31, 2015	$	269,180

Product_Warranties_Tables

Product Warranties (Tables)	6 Months Ended
	Jan. 31, 2015
Schedule of Changes in Product Warranty Liabilities	Changes in our product warranty reserves are as follows:
		Three Months Ended						Six Months Ended
		January 31,						January 31,
		2015			2014			2015			2014
	Beginning balance	$	97,640		$	86,530		$	94,938		$	84,250
	Provision		26,769			18,701			56,230			41,193
	Payments		(27,025	)		(21,097	)		(53,784	)		(41,918	)
	Acquisitions		4,664			—			4,664			609
	Ending balance	$	102,048		$	84,134		$	102,048		$	84,134

Contingent_Liabilities_and_Com1

Contingent Liabilities and Commitments (Tables)	6 Months Ended
	Jan. 31, 2015
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				Six Months Ended
		January  31,				January 31,
		2015		2014		2015		2014
	Cost of units repurchased	$	4,582	$	326	$	6,227	$	449
	Realization of units resold		3,721		289		5,161		390
	Losses due to repurchase	$	861	$	37	$	1,066	$	59

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	6 Months Ended
	Jan. 31, 2015
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		67,573
	Dividends declared and paid		(28,824	)
	Balance as of January 31, 2015	$	1,069,177

Nature_of_Operations_and_Accou2

Nature of Operations and Accounting Policies - Additional Information (Detail)	6 Months Ended
	Jan. 31, 2015
	Segment
Summary Of Significant Accounting Policies [Line Items]
Number of reportable segments	2

Acquisitions_Additional_Inform

Acquisitions - Additional Information (Detail) (USD $)	6 Months Ended		0 Months Ended		3 Months Ended	0 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2014	1-May-14	Oct. 31, 2013	Apr. 30, 2014	Aug. 30, 2013	Jan. 05, 2015
Business Acquisition [Line Items]
Payment to acquire business, net	$49,265	$33,487
K.Z. Inc.
Business Acquisition [Line Items]
Payment to acquire business			53,405
Asset purchase agreement date			1-May-14
Amortizable intangible assets, weighted average useful life			13 years 10 months 24 days
Purchase price adjustment			2,915
Payment to acquire business, net			55,324
Bison
Business Acquisition [Line Items]
Payment to acquire business				16,718	16,914
Asset purchase agreement date				31-Oct-13
Amortizable intangible assets, weighted average useful life				13 years 3 months 18 days
Additional cash payment					196
Livin' Lite
Business Acquisition [Line Items]
Asset purchase agreement date						30-Aug-13
Amortizable intangible assets, weighted average useful life						10 years 2 months 12 days
Payment to acquire business, net						16,769
Cruiser RV, LLC and DRV, LLC
Business Acquisition [Line Items]
Payment to acquire business							47,412
Asset purchase agreement date							31-Dec-14
Amortizable intangible assets, weighted average useful life							13 years 10 months 24 days
Payment to acquire business, net							$46,350
Dealer Networks
Business Acquisition [Line Items]
Intangible assets amortization period	9 years		12 years	12 years		8 years	12 years
Amortizable intangible assets, amortization method	Accelerated cash flow basis
Trademarks
Business Acquisition [Line Items]
Intangible assets amortization period	20 years		20 years	20 years		20 years	20 years
Amortizable intangible assets, amortization method	Straight line basis
Non-Compete Agreements
Business Acquisition [Line Items]
Intangible assets amortization period	2 years		5 years			2 years
Amortizable intangible assets, amortization method	Straight line basis
Backlog
Business Acquisition [Line Items]
Intangible assets amortization period			2 months	42 days		42 days	42 days
Amortizable intangible assets, amortization method	Straight line basis
Design Technology Assets
Business Acquisition [Line Items]
Intangible assets amortization period						5 years
Amortizable intangible assets, amortization method	Straight line basis

Summary_of_Final_Fair_Value_As

Summary of Final Fair Value Assigned to Net Assets Acquired (Detail) (USD $)	6 Months Ended		0 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2014	Aug. 30, 2013	1-May-14	Jan. 05, 2015	Jul. 31, 2014	Oct. 31, 2013
Business Acquisition [Line Items]
Goodwill	$269,180					$256,579
Total cash consideration for acquisition, less cash acquired	49,265	33,487
Bison
Business Acquisition [Line Items]
Current assets							4,050
Property, plant and equipment							625
Goodwill							6,660
Current liabilities							-3,761
Total fair value of net assets acquired							16,914
Bison | Dealer Networks
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset							7,400
Bison | Trademarks
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset							1,800
Bison | Backlog
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset							140
Livin' Lite
Business Acquisition [Line Items]
Cash			247
Other current assets			3,626
Property, plant and equipment			137
Goodwill			9,113
Current liabilities			-2,147
Total fair value of net assets acquired			17,016
Less cash acquired			-247
Total cash consideration for acquisition, less cash acquired			16,769
Livin' Lite | Dealer Networks
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset			3,200
Livin' Lite | Trademarks
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset			1,500
Livin' Lite | Backlog
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset			110
Livin' Lite | Design Technology Assets
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset			1,100
Livin' Lite | Non-Compete Agreements
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset			130
K.Z. Inc.
Business Acquisition [Line Items]
Cash				996
Other current assets				34,121
Property, plant and equipment				15,057
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
K.Z. Inc. | Dealer Networks
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset				13,160
K.Z. Inc. | Trademarks
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset				5,540
K.Z. Inc. | Backlog
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset				420
K.Z. Inc. | Non-Compete Agreements
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset				450
Cruiser RV, LLC and DRV, LLC
Business Acquisition [Line Items]
Cash					1,062
Other current assets					22,099
Property, plant and equipment					4,500
Goodwill					12,601
Current liabilities					-13,200
Total fair value of net assets acquired					47,412
Less cash acquired					-1,062
Total cash consideration for acquisition, less cash acquired					46,350
Cruiser RV, LLC and DRV, LLC | Dealer Networks
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset					14,500
Cruiser RV, LLC and DRV, LLC | Trademarks
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset					5,400
Cruiser RV, LLC and DRV, LLC | Backlog
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset					$450

Discontinued_Operations_Additi

Discontinued Operations - Additional Information (Detail) (USD $)	0 Months Ended	3 Months Ended			6 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Oct. 21, 2013	Jan. 31, 2015	Jan. 31, 2014	Oct. 31, 2013	Jan. 31, 2015	Jan. 31, 2014	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					$100,000	$105,043
Discontinued operation, amounts collected from ASV							5,043
Pre-tax gain (loss) on sale of business			-746	7,825		7,079	7,079
Impact of indemnification to tax expenses			1,883			1,883
Income tax benefit (expense)		$945	$851		$1,104	$1,173

Operating_Results_of_Discontin

Operating Results of Discontinued Operations (Detail) (USD $)	3 Months Ended			6 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2014	Oct. 31, 2013	Jan. 31, 2015	Jan. 31, 2014	Jul. 31, 2014
Discontinued Operations:
Net sales					$83,903
Operating loss of discontinued operations	-2,564	-1,131		-2,999	-4,564
Pre-tax gain (loss) on disposal of discontinued business		-746	7,825		7,079	7,079
Income (loss) before income taxes	-2,564	-1,877		-2,999	2,515
Income tax benefit	-945	-851		-1,104	-1,173
Income (loss) from discontinued operations, net of taxes	($1,619)	($1,026)		($1,895)	$3,688

Business_Segments_Additional_I

Business Segments - Additional Information (Detail)	6 Months Ended
	Jan. 31, 2015
	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		6 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2014	Jan. 31, 2015	Jan. 31, 2014
Segment Reporting Information [Line Items]
Net sales	$852,416	$635,330	$1,774,408	$1,435,293
Income (loss) from continuing operations before income taxes	44,137	23,902	100,843	78,343
Recreation Vehicles
Segment Reporting Information [Line Items]
Income (loss) from continuing operations before income taxes	52,187	30,108	116,587	89,175
Recreation Vehicles | Towables
Segment Reporting Information [Line Items]
Income (loss) from continuing operations before income taxes	40,320	18,915	89,619	64,539
Recreation Vehicles | Motorized
Segment Reporting Information [Line Items]
Income (loss) from continuing operations before income taxes	11,867	11,193	26,968	24,636
Corporate
Segment Reporting Information [Line Items]
Income (loss) from continuing operations before income taxes	-8,050	-6,206	-15,744	-10,832
Continuing Operations | Recreation Vehicles
Segment Reporting Information [Line Items]
Net sales	852,416	635,330	1,774,408	1,435,293
Continuing Operations | Recreation Vehicles | Towables
Segment Reporting Information [Line Items]
Net sales	675,090	472,474	1,374,868	1,095,327
Continuing Operations | Recreation Vehicles | Motorized
Segment Reporting Information [Line Items]
Net sales	$177,326	$162,856	$399,540	$339,966

Schedule_of_Segment_Reporting_1

Schedule of Segment Reporting Information, by Segment Balance Sheet Item (Detail) (USD $)	Jan. 31, 2015	Jul. 31, 2014
In Thousands, unless otherwise specified
Segment Reporting Information [Line Items]
Total assets	$1,455,783	$1,408,718
Continuing Operations | Recreation Vehicles
Segment Reporting Information [Line Items]
Total assets	1,107,986	1,038,268
Continuing Operations | Recreation Vehicles | Towables
Segment Reporting Information [Line Items]
Total assets	932,530	868,017
Continuing Operations | Recreation Vehicles | Motorized
Segment Reporting Information [Line Items]
Total assets	175,456	170,251
Continuing Operations | Corporate
Segment Reporting Information [Line Items]
Total assets	$347,797	$370,450

Earnings_Per_Common_Share_Deta

Earnings Per Common Share (Detail)	3 Months Ended		6 Months Ended
	Jan. 31, 2015	Jan. 31, 2014	Jan. 31, 2015	Jan. 31, 2014
Earnings Per Share Disclosure [Line Items]
Weighted average common shares outstanding for basic earnings per share	53,377,440	53,289,626	53,355,757	53,247,315
Stock options, unvested restricted stock and restricted stock units	81,091	63,401	88,973	78,936
Weighted average common shares outstanding for diluted earnings per share	53,458,531	53,353,027	53,444,730	53,326,251

Earnings_Per_Common_Share_Addi

Earnings Per Common Share - Additional Information (Detail)	3 Months Ended
	Jan. 31, 2015	Jan. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive stock options, unvested restricted stock and restricted stock units outstanding	14,048	12,064

Schedule_of_Major_Classificati

Schedule of Major Classifications of Inventories (Detail) (USD $)	Jan. 31, 2015	Jul. 31, 2014
In Thousands, unless otherwise specified
Inventory [Line Items]
Raw materials	$131,915	$122,150
Chassis	51,947	45,231
Work in process	51,411	49,537
Finished goods	38,067	27,424
Total	273,340	244,342
Excess of FIFO costs over LIFO costs	-28,923	-27,988
Total inventories	$244,417	$216,354

Inventories_Additional_Informa

Inventories - Additional Information (Detail) (USD $)	Jan. 31, 2015	Jul. 31, 2014
In Thousands, unless otherwise specified
Inventory [Line Items]
Inventory	$273,340	$244,342
Subsidiaries valued inventory in first-in, first-out method	$51,588	$36,096

Property_Plant_and_Equipment_D

Property, Plant and Equipment (Detail) (USD $)	Jan. 31, 2015	Jul. 31, 2014
In Thousands, unless otherwise specified
Property, Plant and Equipment [Line Items]
Total cost	$290,325	$273,501
Less accumulated depreciation	-107,168	-103,639
Property, plant and equipment, net	183,157	169,862
Land
Property, Plant and Equipment [Line Items]
Total cost	24,541	21,592
Building and Building Improvements
Property, Plant and Equipment [Line Items]
Total cost	188,738	175,611
Machinery and Equipment
Property, Plant and Equipment [Line Items]
Total cost	$77,046	$76,298

Property_Plant_and_Equipment_A

Property, Plant and Equipment - Additional Information (Detail) (USD $)	3 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Oct. 31, 2013	Jan. 31, 2014
Property, Plant and Equipment [Line Items]
Non-cash impairment charge	$710	$710

Components_of_Amortizable_Inta

Components of Amortizable Intangible Assets (Detail) (USD $)	0 Months Ended				6 Months Ended
In Thousands, unless otherwise specified	Jan. 05, 2015	1-May-14	Oct. 31, 2013	Aug. 30, 2013	Jan. 31, 2015	Jul. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Cost					$182,102	$162,422
Accumulated Amortization					49,625	42,639
Dealer Networks
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life in Years	12 years	12 years	12 years	8 years	9 years
Cost					105,260	90,760
Accumulated Amortization					32,137	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					3,773	3,283
Trademarks
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life in Years	20 years	20 years	20 years	20 years	20 years
Cost					49,282	43,882
Accumulated Amortization					6,438	5,479
Design Technology And Other Intangibles
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life in Years					10 years
Cost					22,850	23,070
Accumulated Amortization					$7,277	$6,775

Estimated_Amortization_Expense

Estimated Amortization Expense (Detail) (USD $)	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	$15,238
Estimated annual amortization expense, For the fiscal year ending July 31, 2016	15,161
Estimated annual amortization expense, For the fiscal year ending July 31, 2017	15,123
Estimated annual amortization expense, For the fiscal year ending July 31, 2018	14,057
Estimated annual amortization expense, For the fiscal year ending July 31, 2019	12,687
Estimated annual amortization expense, For the fiscal year ending July 31, 2020	11,614
Estimated annual amortization expense, For the fiscal year ending July 31, 2021 and thereafter	56,253
Estimated annual amortization expense, Total	$140,133

Schedule_of_Change_in_Carrying

Schedule of Change in Carrying Value in Goodwill (Detail) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2015
Goodwill [Line Items]
Beginning Balance	$256,579
Acquisition of towables business	12,601
Ending Balance	$269,180

Concentration_of_Risk_Addition

Concentration of Risk - Additional Information (Detail) (Freedom Roads, LLC)	6 Months Ended		12 Months Ended
	Jan. 31, 2015	Jan. 31, 2014	Jul. 31, 2014
Net Sales
Concentration Risk [Line Items]
Concentration risk percentage	14.00%	16.00%
Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage	17.00%		21.00%

Loan_Transactions_and_Related_1

Loan Transactions and Related Notes Receivable - Additional Information (Detail) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2009	Dec. 31, 2009
First Credit Agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan amount		$10,000
Second Credit Agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan amount		10,000
Third Credit Agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan amount	$6,000		$10,000
Notes receivable, maturity	30-Aug-15

Investments_and_Fair_Value_Mea1

Investments and Fair Value Measurements - Additional Information (Detail) (Level 1, USD $)	Jan. 31, 2015	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	$9,495	$8,973

Product_Warranties_Additional_

Product Warranties - Additional Information (Detail)	6 Months Ended
	Jan. 31, 2015
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		6 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2014	Jan. 31, 2015	Jan. 31, 2014
Product Warranty
Beginning balance	$97,640	$86,530	$94,938	$84,250
Provision	26,769	18,701	56,230	41,193
Payments	-27,025	-21,097	-53,784	-41,918
Acquisitions	4,664		4,664	609
Ending balance	$102,048	$84,134	$102,048	$84,134

Provision_for_Income_Taxes_Add

Provision for Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2014	Jan. 31, 2015	Jan. 31, 2014
Income Tax [Line Items]
Effective income tax rate	31.40%	28.00%	31.10%	31.60%
Decreases in unrecognized tax benefits resulting from effective settlement			$4,506
Income tax benefit related to gross uncertain tax benefit releases, net			2,387
Accrued an additional uncertain tax benefit related to prior tax periods	90		90
Interest and penalties related to uncertain tax benefits	147		293
Expected decrease in unrecognized tax benefits due to resolution of uncertain tax positions			2,560
Expected decrease in interest and penalties due to resolution of uncertain tax positions			385
Minimum
Income Tax [Line Items]
Expected gross unrecognized tax benefits decrease			100
Expected decrease in interest and penalties			150
Maximum
Income Tax [Line Items]
Expected gross unrecognized tax benefits decrease			2,700
Expected decrease in interest and penalties			$1,200

Contingent_Liabilities_and_Com2

Contingent Liabilities and Commitments - Additional Information (Detail) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2015	Jul. 31, 2014
Loss Contingencies [Line Items]
Standby Repurchase Obligations Amount	$1,496,008	$1,226,650
Term of Commitments	Up to eighteen months
Repurchase and guarantee reserve balances	$4,690	$3,948

Losses_Due_to_Repurchases_Rela

Losses Due to Repurchases Related to Repurchase Agreements (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2014	Jan. 31, 2015	Jan. 31, 2014
Loss Contingencies [Line Items]
Cost of units repurchased	$4,582	$326	$6,227	$449
Realization of units resold	3,721	289	5,161	390
Losses due to repurchase	$861	$37	$1,066	$59

Stockholders_Equity_Additional

Stockholders' Equity - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended		3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2014	Jan. 31, 2015	Jan. 31, 2014	Oct. 31, 2014
Stock Based Compensation And Stockholders Equity [Line Items]
Stock-based compensation	$1,762	$1,272	$3,327	$2,648
Withholding taxes payable			1,562	1,251
Dividends declared and paid			28,824
Regular Dividend
Stock Based Compensation And Stockholders Equity [Line Items]
Dividends declared and paid per common share	$0.27				$0.27
Dividends declared and paid			28,824
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	$1,251

Schedule_of_Change_in_Retained

Schedule of Change in Retained Earnings (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2014	Jan. 31, 2015	Jan. 31, 2014
Retained Earnings Adjustments [Line Items]
Beginning Balance			$1,030,428
Net income	28,648	16,192	67,573	57,300
Dividends declared and paid			-28,824
Ending Balance	$1,069,177		$1,069,177