Thor Industries (THO) 10-K 27 Sep 17 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jul. 31, 2017	Sep. 01, 2017	Jan. 31, 2017
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jul. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Trading Symbol	THO
Entity Registrant Name	THOR INDUSTRIES INC
Entity Central Index Key	730,263
Current Fiscal Year End Date	--07-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		52,586,041
Entity Public Float			$ 5,219,000,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 31, 2017	Jul. 31, 2016
Current assets:
Cash and cash equivalents	$ 223,258	$ 209,902
Accounts receivable, trade, less allowance for doubtful accounts - $692 in 2017 and $625 in 2016	453,754	370,085
Accounts receivable, other, net	31,090	22,454
Inventories, net	460,488	403,869
Prepaid expenses and other	11,577	10,548
Total current assets	1,180,167	1,016,858
Property, plant and equipment, net	425,238	344,267
Other assets:
Goodwill	377,693	377,693
Amortizable intangible assets, net	443,466	507,391
Deferred income taxes, net	92,969	53,417
Other	38,398	25,838
Total other assets	952,526	964,339
Total Assets	2,557,931	2,325,464
Current liabilities:
Accounts payable	328,601	263,774
Accrued liabilities:
Compensation and related items	100,114	81,159
Product warranties	216,781	201,840
Income and other taxes	51,211	25,531
Promotions and rebates	46,459	40,452
Product, property and related liabilities	16,521	15,969
Other	21,359	22,927
Total current liabilities	781,046	651,652
Long-term debt	145,000	360,000
Unrecognized tax benefits	10,263	9,975
Other liabilities	45,082	38,615
Total long-term liabilities	200,345	408,590
Contingent liabilities and commitments
Stockholders' equity:
Preferred stock-authorized 1,000,000 shares; none outstanding
Common stock-par value of $.10 a share; authorized, 250,000,000 shares; issued 62,597,110 shares in 2017 and 62,439,795 shares in 2016	6,260	6,244
Additional paid-in capital	235,525	224,496
Retained earnings	1,670,826	1,365,981
Less treasury shares of 10,011,069 in 2017 and 9,957,180 in 2016, at cost	(336,071)	(331,499)
Total stockholders' equity	1,576,540	1,265,222
Total Liabilities and Stockholders' Equity	$ 2,557,931	$ 2,325,464

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jul. 31, 2017	Jul. 31, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 692	$ 625
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	62,597,110	62,439,795
Treasury, shares	10,011,069	9,957,180

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Income Statement [Abstract]
Net sales	$ 7,246,952	$ 4,582,112	$ 4,006,819
Cost of products sold	6,203,369	3,855,787	3,449,274
Gross profit	1,043,583	726,325	557,545
Selling, general and administrative expenses	419,847	306,269	250,891
Impairment charges		9,113
Amortization of intangible assets	63,925	27,962	16,015
Interest income	923	743	1,292
Interest expense	9,730	1,592	180
Other income, net	5,382	1,181	1,144
Income from continuing operations before income taxes	556,386	383,313	292,895
Income taxes	182,132	125,291	90,886
Net income from continuing operations	374,254	258,022	202,009
Loss from discontinued operations, net of income taxes	0	(1,503)	(2,624)
Net income and comprehensive income	$ 374,254	$ 256,519	$ 199,385
Earnings per common share from continuing operations:
Basic	$ 7.12	$ 4.92	$ 3.80
Diluted	7.09	4.91	3.79
Loss per common share from discontinued operations
Basic		(0.03)	(0.05)
Diluted		(0.03)	(0.05)
Earnings per common share:
Basic	7.12	4.89	3.75
Diluted	$ 7.09	$ 4.88	$ 3.74

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Treasury Stock	Common Stock	Additional Paid-in Capital	Retained Earnings
Beginning Balance (in shares) at Jul. 31, 2014		8,880,877	62,210,429
Beginning Balance at Jul. 31, 2014		$ (267,453)	$ 6,221	$ 208,501	$ 1,030,428
Net income	$ 199,385				199,385
Shares purchased (in shares)		1,000,000
Shares purchased		$ (60,000)
Stock option and restricted stock activity (in shares)			5,000
Stock option and restricted stock activity			$ 1	140
Restricted stock unit activity (in shares)		30,597	90,608
Restricted stock unit activity		$ (1,562)	$ 9	122
Cash dividends - $1.08 in 2015, $1.20 in 2016, $1.32 in 2017 per common share					(57,381)
Stock compensation expense				6,776
Ending Balance (in shares) at Jul. 31, 2015		9,911,474	62,306,037
Ending Balance at Jul. 31, 2015		$ (329,015)	$ 6,231	215,539	1,172,432
Net income	256,519				256,519
Restricted stock unit activity (in shares)		45,706	133,758
Restricted stock unit activity		$ (2,484)	$ 13	(430)
Cash dividends - $1.08 in 2015, $1.20 in 2016, $1.32 in 2017 per common share					(62,970)
Stock compensation expense				9,387
Ending Balance (in shares) at Jul. 31, 2016		9,957,180	62,439,795
Ending Balance at Jul. 31, 2016	1,265,222	$ (331,499)	$ 6,244	224,496	1,365,981
Net income	374,254				374,254
Restricted stock unit activity (in shares)		53,889	157,315
Restricted stock unit activity		$ (4,572)	$ 16	(1,471)
Cash dividends - $1.08 in 2015, $1.20 in 2016, $1.32 in 2017 per common share					(69,409)
Stock compensation expense				12,500
Ending Balance (in shares) at Jul. 31, 2017		10,011,069	62,597,110
Ending Balance at Jul. 31, 2017	$ 1,576,540	$ (336,071)	$ 6,260	$ 235,525	$ 1,670,826

Consolidated Statements of Sto6

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Retained Earnings
Cash dividends, per common share	$ 1.32	$ 1.20	$ 1.08

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Cash flows from operating activities:
Net income	$ 374,254	$ 256,519	$ 199,385
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	34,333	24,613	15,366
Amortization of intangibles	63,925	27,962	16,015
Amortization of debt issuance costs	1,570	131
Impairment charges		9,113
Deferred income tax benefit	(39,552)	(14,116)	(7,292)
Gain on disposition of property, plant & equipment	(2,231)	(35)	(91)
Stock-based compensation	12,500	9,387	6,776
Excess tax benefits from stock-based awards		(320)	(135)
Changes in assets and liabilities (excluding acquisitions):
Accounts receivable	(92,305)	(15,773)	41,324
Inventories	(56,619)	(15,582)	14,750
Prepaid expenses and other assets	(13,888)	719	(3,000)
Accounts payable	67,138	28,625	(26,632)
Accrued liabilities	63,075	26,016	(30)
Long-term liabilities and other	7,133	3,950	(8,576)
Net cash provided by operating activities	419,333	341,209	247,860
Cash flows from investing activities:
Purchases of property, plant & equipment	(115,027)	(51,976)	(42,283)
Proceeds from dispositions of property, plant & equipment	4,682	347	381
Proceeds from notes receivable		8,367	1,400
Acquisitions, net of cash acquired	(5,039)	(557,651)	(194,486)
Other	(1,271)	(560)	20
Net cash used in investing activities	(116,655)	(601,473)	(234,968)
Cash flows from financing activities:
Borrowings on revolving credit facility		360,000
Principal payments on revolving credit facility	(215,000)
Payments of debt issuance costs		(7,850)
Cash dividends paid	(69,409)	(62,970)	(57,381)
Purchase of treasury stock			(60,000)
Payments related to vesting of stock-based awards	(4,572)	(2,484)	(1,562)
Excess tax benefits from stock-based awards		320	135
Proceeds from issuance of common stock			141
Principal payments on capital lease obligations	(341)	(328)	(83)
Net cash provided by (used in) financing activities	(289,322)	286,688	(118,750)
Net increase (decrease) in cash and cash equivalents	13,356	26,424	(105,858)
Cash and cash equivalents, beginning of year	209,902	183,478	289,336
Cash and cash equivalents, end of year	223,258	209,902	183,478
Supplemental cash flow information:
Income taxes paid	198,619	128,409	115,124
Interest paid	8,558	672	180
Non-cash transactions:
Capital expenditures in accounts payable	$ 6,266	$ 3,538	$ 1,540

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jul. 31, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations The Company’s ongoing business activities are primarily comprised of two distinct operations, which include the design, manufacture and sale of towable recreational vehicles and motorized recreational vehicles. Accordingly, the Company has presented segmented financial information for these two segments in Note 4 to the Consolidated Financial Statements. See Note 3 to the Consolidated Financial Statements for a description of the Company’s former bus operations which were sold as of October 20, 2013. Accordingly, the accompanying financial statements (including footnote disclosures unless otherwise indicated) reflect these operations as discontinued operations apart from the Company’s continuing operations. Certain amounts for fiscal 2016 and fiscal 2015 included in Note 12 to the Consolidated Financial Statements have been reclassified to conform to the fiscal 2017 presentation. Principles of Consolidation Estimates Cash and Cash Equivalents Fair Value of Financial Instruments Inventories Depreciation Buildings and improvements – 10 to 39 years Machinery and equipment – 3 to 10 years Depreciation expense is recorded in cost of products sold except for $5,710, $3,812 and $2,362 in fiscal 2017, 2016 and 2015, respectively, which relates primarily to office buildings and office equipment and is recorded in selling, general and administrative expenses. Intangible Assets Backlog is amortized using a straight-line basis method over periods up to 3 months. Goodwill is not amortized but is tested at least annually for impairment. Goodwill is reviewed for impairment by applying a fair-value based test on an annual basis, or more frequently if events or circumstances indicate a potential impairment. Long-lived Assets Product Warranties Allowance for Doubtful Accounts Insurance Reserves Revenue Recognition 1) An order for a product has been received from a dealer; 2) Written or oral approval for payment has been received from the dealer’s flooring institution, if applicable; 3) A common carrier signs the delivery ticket accepting responsibility for the product as agent for the dealer; and 4) The product is removed from the Company’s property for delivery to the dealer who placed the order. These conditions are generally met when title passes, which is when vehicles are shipped to dealers in accordance with shipping terms, which are primarily FOB shipping point. Most sales are made to dealers financing their purchases under flooring arrangements with banks or finance companies. Certain shipments are sold to customers on credit or cash on delivery (“COD”) terms. The Company recognizes revenue on credit sales upon shipment and COD sales upon payment and delivery. Products are not sold on consignment, dealers do not have the right to return products and dealers are typically responsible for interest costs to floor plan lenders. At the time of revenue recognition, amounts billed to dealers for delivery of product are recognized as revenue and the corresponding delivery expense charged to costs of products sold. Revenues from the sale of extruded aluminum components are recognized when title to products and the risk of loss are transferred to the customer. Dealer Volume Rebates, Sales Incentives and Advertising Costs Repurchase Agreements – 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 price is generally determined by the original sales price of the product and pre-defined curtailment arrangements and the Company typically resells the repurchased product at a discount from its repurchase price. The Company accounts for the guarantee under its repurchase agreements with our dealers’ financing institutions by estimating and deferring a portion of the related product sale that represents the estimated fair value of the repurchase obligation. The estimated fair value takes into account our estimate of the loss we will incur upon resale of any repurchases. This estimate is based on recent historical experience supplemented by management’s assessment of current economic and other conditions affecting our dealers. This deferred amount is included in our repurchase and guarantee reserve which is included in Other current liabilities in the Consolidated Balance Sheets. Income Taxes – The Company recognizes liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step requires the Company to estimate and measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. It is inherently difficult and subjective to estimate such amounts, as the Company has to determine the probability of various possible outcomes. The Company reevaluates these uncertain tax positions on a quarterly basis. This evaluation is based on factors including, but not limited to, changes in facts or circumstances, changes in tax law, effectively settled issues under audit, voluntary settlements and new audit activity. Such a change in recognition or measurement would result in the recognition of a tax benefit or an additional charge to the tax provision. Significant judgment is required in determining the Company’s provision for income taxes, the Company’s deferred tax assets and liabilities and the valuation allowance recorded against the Company’s deferred tax assets, if any. Valuation allowances must be considered due to the uncertainty of realizing deferred tax assets. The Company assesses whether valuation allowances should be established against our deferred tax assets on a tax jurisdictional basis based on the consideration of all available evidence, including cumulative income over recent periods, using a more likely than not standard. The valuation allowance activity during the year was not material. Stock-Based Compensation Earnings Per Share 2017 2016 2015 Weighted-average shares outstanding for basic earnings per share 52,562,723 52,458,789 53,166,206 Unvested restricted stock and restricted stock units 195,719 131,727 109,304 Weighted-average shares outstanding assuming dilution 52,758,442 52,590,516 53,275,510 The Company excludes unvested restricted stock and restricted stock units that have an antidilutive effect from its calculation of weighted-average shares outstanding assuming dilution, but had none at July 31, 2017, 2016 or 2015. Accounting Pronouncements In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-04, “Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment,” which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge (referred to as Step 2 in the goodwill impairment test). Instead, if the carrying amount of a reporting unit exceeds its fair value, an impairment charge equal to that excess shall be recognized, not to exceed the amount of goodwill allocated to the reporting unit. The standard is effective for annual and any interim impairment tests for periods beginning after December 15, 2019, with early adoption permitted after January 1, 2017. ASU No. 2017-04 is effective for the Company in its fiscal year 2021 beginning on August 1, 2020. The Company is currently evaluating the impact of this standard on its consolidated financial statements, which will depend on the outcomes of future goodwill impairment tests. In March 2016, the FASB issued Accounting Standards Update No. 2016-09 (“ASU 2016-09”), “Improvements to Employee Share-Based Payment Accounting,” which simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for the related income taxes, forfeitures, statutory tax withholding requirements and classification in the statement of cash flows. ASU 2016-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. Early adoption is permitted and the Company adopted the provisions of ASU 2016-09 as of August 1, 2016. Applicable provisions of the standard were adopted prospectively as allowed under this ASU. The provisions related to income taxes resulted in a tax benefit of $1,898 for fiscal 2017. The Company did not change its policy related to forfeitures, which is estimated based on historical forfeiture rates over the vesting period of employee awards. Provisions related to the statement of cash flows have been adopted prospectively and result in the recognition of the excess tax benefits from share-based awards being reflected in cash provided by operating activities. In February 2016, the FASB issued Accounting Standards Update No. 2016-02 (“ASU 2016-02”), “Leases (Topic 842),” which provides guidance on the recognition, measurement, presentation, and disclosure of leases. ASU 2016-02 requires the recognition of lease assets and lease liabilities by lessees for all leases with terms greater than 12 months. The principal difference from current guidance is that the lease assets and lease liabilities arising from operating leases will be recognized on the Consolidated Balance Sheet. This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted. The ASU is effective for the Company in its fiscal year 2020 beginning on August 1, 2019. The Company is currently evaluating the impact that implementing this ASU will have on its financial statements. In September 2015, the FASB issued Accounting Standards Update No. 2015-16 (“ASU 2015-16”), “Business Combinations (Topic 805): Simplifying the Accounting for Measurement Period Adjustments,” to simplify the accounting for measurement-period adjustments in a business combination. Under the new standard, an acquirer must recognize adjustments to provisional amounts in a business combination in the reporting period in which the adjustment amounts are determined, rather than retrospectively adjusting the provisional amounts recognized at the acquisition date with a corresponding adjustment to goodwill as under current guidance. ASU 2015-16 is effective for fiscal years, and the interim periods within those years, beginning after December 15, 2015. The Company adopted ASU 2015-16 on August 1, 2016 and there was no impact upon its adoption. In July 2015, the FASB issued Accounting Standards Update No. 2015-11 (“ASU 2015-11”), “Inventory (Topic 330): Simplifying the Measurement of Inventory.” ASU 2015-11 requires inventory measured using any method other than last-in, first-out (“LIFO”) or the retail inventory method to be subsequently measured at the lower of cost or net realizable value, rather than at the lower of cost or market. Under this standard, subsequent measurement of inventory using the LIFO and retail inventory method is unchanged. ASU 2015-11 is effective prospectively for fiscal years, and for interim periods within those years, beginning after December 15, 2016. ASU 2015-11 is effective for the Company in its fiscal year 2018 beginning on August 1, 2017. The Company does not expect the adoption of ASU 2015-11 to have a material impact on its consolidated financial statements. In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (“ASU 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 new standard will also require additional qualitative and quantitative disclosures about contracts with customers, significant judgments made in applying the revenue guidance, and assets recognized from the costs to obtain or fulfill a contract. ASU 2014-09 is effective for fiscal years, and the interim periods within those years, beginning after December 15, 2017. The standard is effective for the Company in its fiscal year 2019 beginning on August 1, 2018. In applying the ASU, entities have the option of using either a full retrospective transition or a modified retrospective approach with the cumulative effect recognized as of the date of adoption. The Company is currently evaluating the approach it will use to apply the ASU and the impact that the adoption of the ASU will have on the Company’s consolidated financial statements including the impact on financial statement disclosure under the ASU.

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Jul. 31, 2017
Business Combinations [Abstract]
ACQUISITIONS	2. ACQUISITIONS Jayco, Inc. On June 30, 2016, the Company closed on a Stock Purchase Agreement (“Jayco SPA”) for the acquisition of all the issued and outstanding capital stock of towable and motorized recreational vehicle manufacturer Jayco, Corp. (“Jayco”) for initial cash consideration of $576,060, subject to adjustment. This acquisition was funded from the Company’s cash on hand and $360,000 from an asset-based revolving credit facility as more fully described in Note 11 to the Consolidated Financial Statements. The final purchase price adjustment of $5,039, included in accounts payable as of July 31, 2016, was based on the final determination of net assets as of the June 30, 2016 closing date and was paid during the first quarter of fiscal 2017. Jayco operates as an independent operation in the same manner as the Company’s other recreational vehicle subsidiaries, and its towables operations are aggregated within the Company’s towable recreational vehicle reportable segment and its motorized operations are aggregated within the Company’s motorized recreational vehicle reportable segment. The Company purchased Jayco to complement its existing towable and motorized RV product offerings and dealer base. The following table summarizes the final fair values assigned to the Jayco net assets acquired, which are based on internal and independent external valuations: Cash $ 18,409 Other current assets 258,158 Property, plant and equipment 80,824 Dealer network 261,100 Trademarks 92,800 Backlog 12,400 Goodwill 74,184 Current liabilities (216,776 ) Total fair value of net assets acquired 581,099 Less cash acquired (18,409 ) Total cash consideration for acquisition, less cash acquired $ 562,690 On the acquisition date, amortizable intangible assets had a weighted-average useful life of 19.3 years. The dealer network was valued based on the Discounted Cash Flow Method and is amortized on an accelerated basis over 20 years. The trademarks 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 is amortized on a straight-line basis over 3 months. Goodwill is deductible for tax purposes. The following unaudited pro forma information represents the Company’s results of operations as if the fiscal 2016 acquisition of Jayco had occurred at the beginning of fiscal 2015: Fiscal Year Ended Net sales $ 6,176,686 Net income $ 284,394 Basic earnings per common share $ 5.42 Diluted earnings per common share $ 5.41 Postle On May 1, 2015, the Company closed on a Membership Interest Purchase Agreement with Postle Aluminum Company, LLC for the acquisition of all the outstanding membership units of Postle Operating, LLC (“Postle”), a manufacturer of aluminum extrusion and specialized component products sold to RV and other manufacturers, for total cash consideration of $144,048, net of cash acquired. The net cash consideration of $144,048 was funded entirely from the Company’s cash on hand, based on a final determination of the actual net assets as of the May 1, 2015 closing date and paid during the fourth quarter of fiscal 2015. Postle operates as an independent operation in the same manner as the Company’s other subsidiaries. The operations of Postle are reported in Other, which is a non-reportable segment. The following table summarizes the fair values assigned to the Postle net assets acquired, which are based on internal and independent external valuations: Cash $ 2,963 Other current assets 54,780 Property, plant and equipment 32,251 Customer relationships 38,800 Trademarks 6,000 Backlog 300 Goodwill 42,871 Current liabilities (23,729 ) Capital lease obligations (7,225 ) Total fair value of net assets acquired 147,011 Less cash acquired (2,963 ) Total cash consideration for acquisition, less cash acquired $ 144,048 On the acquisition date, amortizable intangible assets had a weighted-average useful life of 12.3 years. The customer relationships were 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 15 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. 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”). The Heartland operations are reported within the towable recreational vehicle reportable segment. 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 paid for this acquisition was $47,412, subject to adjustment, and was funded entirely from the Company’s cash on hand. Adjustments to increase the net cash consideration of $1,173 were identified as of July 31, 2015, based on the determination of the actual net assets as of the close of business on December 31, 2014 and the finalization of certain tax matters, and paid during the fourth quarter of fiscal 2015. The $1,173 included reimbursing the seller for $1,062 of cash on hand at the acquisition date, and resulted in total net cash consideration of $47,523. The Company purchased CRV and DRV to supplement and expand its existing lightweight travel trailer and luxury fifth wheel product offerings and dealer base. The following table summarizes the final fair values assigned to the CRV and DRV net assets acquired, which are based on internal and independent external valuations: Cash $ 1,062 Other current assets 22,175 Property, plant and equipment 4,533 Dealer network 14,300 Trademarks 5,400 Backlog 450 Goodwill 13,172 Current liabilities (12,507 ) Total fair value of net assets acquired 48,585 Less cash acquired (1,062 ) Total cash consideration for acquisition, less cash acquired $ 47,523 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 was amortized on a straight-line basis over 6 weeks. Goodwill is deductible for tax purposes.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	12 Months Ended
	Jul. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	3. DISCONTINUED OPERATIONS On July 31, 2013, the Company entered into a Stock Purchase Agreement (“ASV SPA”) and sold its bus business to Allied Specialty Vehicles, Inc. (“ASV”). The sale closed on October 20, 2013. The Company’s bus business, which manufactured and sold transit and shuttle buses, included the operations of Champion Bus Inc., General Coach America, Inc., Goshen Coach, Inc., ElDorado National (California), Inc. and ElDorado National (Kansas), Inc. This divestiture allowed the Company to focus on the strategic development and growth of its core recreational vehicle business. The results of operations for the bus business have been reported as loss from discontinued operations, net of income taxes, in the Consolidated Statements of Income and Comprehensive Income for fiscal 2016 and fiscal 2015. The following table summarizes the results of discontinued operations: 2017 2016 2015 Loss before income taxes $ – $ (2,417 ) $ (4,791 ) Income tax benefit – 914 2,167 Loss from discontinued operations, net of income taxes $ – $ (1,503 ) $ (2,624 ) The loss before income taxes of discontinued operations 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 workers’ 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. 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	12 Months Ended
	Jul. 31, 2017
Segment Reporting [Abstract]
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), Heartland (including Bison, CRV and DRV), Jayco (including Jayco towable, Starcraft and Highland Ridge), Keystone (including CrossRoads and Dutchmen), and KZ (including Livin’ Lite). The motorized recreational vehicle reportable segment consists of the following operating segments that have been aggregated: Airstream (motorized), Jayco (including Jayco motorized and Entegra Coach) and Thor Motor Coach. The operations of the Company’s Postle subsidiary, which was acquired May 1, 2015, are included in “Other,” which is a non-reportable segment. Net sales included in Other mainly relate to the sale of aluminum extrusions and specialized component products. Intercompany eliminations adjust for Postle sales to the Company’s towables and motorized segments, which are consummated at established arm’s-length transfer prices generally consistent with the selling prices of extrusion components to third party customers. All manufacturing is conducted in the United States. Total assets include those assets used in the operation of each reportable and non-reportable segment, and the Corporate assets consist primarily of cash and cash equivalents and deferred income tax assets. 2017 2016 2015 Net sales: Recreational vehicles Towables $ 5,127,491 $ 3,338,659 $ 3,096,405 Motorized 1,971,466 1,094,250 870,799 Total recreational vehicles 7,098,957 4,432,909 3,967,204 Other 253,557 218,673 56,594 Intercompany eliminations (105,562 ) (69,470 ) (16,979 ) Total $ 7,246,952 $ 4,582,112 $ 4,006,819 Income (loss) from continuing operations before income taxes: Recreational vehicles Towables $ 458,915 $ 321,874 $ 259,092 Motorized 125,323 88,523 66,746 Total recreational vehicles 584,238 410,397 325,838 Other 28,909 18,547 1,424 Intercompany eliminations (195 ) (23 ) (554 ) Corporate (56,566 ) (45,608 ) (33,813 ) Total $ 556,386 $ 383,313 $ 292,895 Total assets: Recreational vehicles Towables $ 1,535,029 $ 1,425,168 $ 907,175 Motorized 500,761 476,973 162,940 Total recreational vehicles 2,035,790 1,902,141 1,070,115 Other, net 156,996 156,822 161,075 Corporate 365,145 266,501 272,058 Total $ 2,557,931 $ 2,325,464 $ 1,503,248 Depreciation and amortization expense: Recreational vehicles Towables $ 75,568 $ 36,054 $ 26,296 Motorized 9,393 2,994 2,353 Total recreational vehicles 84,961 39,048 28,649 Other 11,967 12,352 1,678 Corporate 1,330 1,175 1,054 Total $ 98,258 $ 52,575 $ 31,381 Capital acquisitions: Recreational vehicles Towables $ 72,801 $ 37,489 $ 35,039 Motorized 41,677 11,191 4,309 Total recreational vehicles 114,478 48,680 39,348 Other 1,157 2,799 436 Corporate 2,120 2,495 3,271 Total $ 117,755 $ 53,974 $ 43,055 Export sales from the Company’s continuing operations, predominantly to Canada, were $628,176, $368,426 and $465,642 in fiscal 2017, 2016 and 2015, respectively, and accounted for 8.7%, 8.0% and 11.6% of the Company’s consolidated net sales for those respective years.

INVENTORIES

INVENTORIES	12 Months Ended
	Jul. 31, 2017
Inventory Disclosure [Abstract]
INVENTORIES	5. INVENTORIES Major classifications of inventories are: July 31, 2017 2016 Finished products – RV $ 24,904 $ 39,943 Finished products – other 27,862 20,141 Work in process 117,319 97,872 Raw materials 214,518 173,362 Chassis 109,555 102,686 Subtotal 494,158 434,004 Excess of FIFO costs over LIFO costs (33,670 ) (30,135 ) Total inventories $ 460,488 $ 403,869 Of the $494,158 and $434,004 of inventory at July 31, 2017 and 2016, $284,897 and $219,050, respectively, was valued on the last-in, first-out (LIFO) basis, and $209,261 and $214,954, respectively, was valued on the first-in, first-out (FIFO) method. The Company’s reserves for inventory obsolescence were $5,240 at July 31, 2017 and $4,840 at July 31, 2016.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Jul. 31, 2017
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	6. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment is stated at cost, net of accumulated depreciation, and consists of the following: July 31, 2017 2016 Land $ 48,812 $ 46,422 Buildings and improvements 380,139 300,902 Machinery and equipment 161,724 133,112 Total cost 590,675 480,436 Less accumulated depreciation (165,437 ) (136,169 ) Net property, plant and equipment $ 425,238 $ 344,267 Property, plant and equipment at both July 31, 2017 and July 31, 2016 includes buildings and improvements acquired under capital leases of $6,527, and includes related amortization included in accumulated depreciation of $1,224 and $680, respectively. The Company sold land and buildings and improvements related to a towable RV facility located in the western United States in the first quarter of fiscal 2017. The sale resulted in net cash proceeds of $4,254 and a gain on the sale of $2,165, which is included in Other income, net in the Consolidated Statements of Income and Comprehensive Income. RV production from this facility was previously consolidated into another Company complex in the same region.

INTANGIBLE ASSETS, GOODWILL AND

INTANGIBLE ASSETS, GOODWILL AND LONG-LIVED ASSETS	12 Months Ended
	Jul. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, GOODWILL AND LONG-LIVED ASSETS	7. INTANGIBLE ASSETS, GOODWILL AND LONG-LIVED ASSETS The components of amortizable intangible assets are as follows: July 31, 2017 July 31, 2016 Weighted-Average Remaining Life in Years Cost Accumulated Amortization Cost Accumulated Amortization Dealer networks/customer relationships 16 $ 404,960 $ 101,795 $ 404,960 $ 55,191 Trademarks 18 147,617 17,570 148,117 10,539 Design technology and other intangibles 8 19,300 9,203 22,400 10,870 Non-compete agreements 2 450 293 450 203 Backlog – – – 12,400 4,133 Total amortizable intangible assets $ 572,327 $ 128,861 $ 588,327 $ 80,936 The dealer networks and customer relationships are being amortized on an accelerated basis. Trademarks, design technology and other intangibles and non-compete agreements are amortized on a straight-line basis. Estimated amortization expense for future years is as follows: For the fiscal year ending July 31, 2018 $ 53,968 For the fiscal year ending July 31, 2019 50,136 For the fiscal year ending July 31, 2020 46,269 For the fiscal year ending July 31, 2021 42,935 For the fiscal year ending July 31, 2022 37,828 For the fiscal year ending July 31, 2023 and thereafter 212,330 $ 443,466 During the second quarter of fiscal 2016, the Company determined that sufficient evidence existed to warrant an interim goodwill impairment analysis for one of its reporting units. As a result of this analysis, the Company recorded a pre-tax, non-cash goodwill impairment charge of $9,113 in the second quarter of fiscal 2016 related to this reporting unit within the towables reportable segment. For the purpose of this goodwill test, the fair value of the reporting unit was determined by employing a discounted cash flow model, which utilized Level 3 inputs as defined by ASC 820 and discussed in Note 9 to the Consolidated Financial Statements. The $9,113 charge represents the full impairment of the goodwill related to this reporting unit. Historically, the Company completed its annual impairment test as of April 30. During the fourth quarter of the fiscal year ended July 31, 2017, the Company changed the date of its annual impairment test to May 31. This change did not result in any delay, acceleration or avoidance of impairment. The Company completed its annual impairment test as of April 30, 2017, and then performed an additional impairment test as of May 31, 2017 in connection with the change. No impairment of goodwill was identified as of either April 30, 2017 or May 31, 2017. The Company believes May 31 is a preferable test date because it will allow the Company to consider certain industry forecasts and other relevant external information important to the financial forecasting process that are not available as of the April 30 date. Furthermore, the May 31 date will allow additional time to complete the impairment testing and estimate the implied fair value of goodwill for comparison with the carrying value, should that be necessary, because the testing will occur earlier within a quarterly reporting cycle. This change was applied prospectively beginning May 31, 2017. Retrospective application to prior periods is impracticable as the Company is unable to objectively determine, without the use of hindsight, the assumptions that would have been used in those earlier periods. The Company’s reporting units are generally the same as its operating segments, which are identified in Note 4 to the Consolidated Financial Statements. Fair values are 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 and discussed in Note 9 to the Consolidated Financial Statements. 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. Changes in the carrying amount of goodwill by reportable segment as of July 31, 2017 and 2016 are summarized as follows: Towables Motorized Other Total Net balance as of July 31, 2015 $ 269,751 $ – $ 42,871 $ 312,622 Fiscal year 2016 activity: Goodwill acquired 74,184 – – 74,184 Impairment charges (9,113 ) – – (9,113 ) Net balance as of July 31, 2016 $ 334,822 $ – $ 42,871 $ 377,693 Fiscal year 2017 activity: No activity – – – – Net balance as of July 31, 2017 $ 334,822 $ – $ 42,871 $ 377,693 The components of the net balance as of July 31, 2017 are summarized as follows: Towables Motorized Other Total Goodwill $ 343,935 $ 17,252 $ 42,871 $ 404,058 Accumulated impairment charges (9,113 ) (17,252 ) – (26,365 ) Net balance as of July 31, 2017 $ 334,822 $ – $ 42,871 $ 377,693

CONCENTRATION OF RISK

CONCENTRATION OF RISK	12 Months Ended
	Jul. 31, 2017
Risks and Uncertainties [Abstract]
CONCENTRATION OF RISK	8. CONCENTRATION OF RISK One dealer, FreedomRoads, LLC, accounted for 20% of the Company’s consolidated net sales in fiscal 2017, 20% in fiscal 2016 and 17% in fiscal 2015. This dealer also accounted for 30% of the Company’s continuing consolidated trade accounts receivable at July 31, 2017 and 18% at July 31, 2016. The loss of this dealer could have a significant effect on the Company’s business.

INVESTMENTS AND FAIR VALUE MEAS

INVESTMENTS AND FAIR VALUE MEASUREMENTS	12 Months Ended
	Jul. 31, 2017
Fair Value Disclosures [Abstract]
INVESTMENTS AND FAIR VALUE MEASUREMENTS	9. 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, “Fair Value Measurements and Disclosures.” Level 1 inputs include quoted prices in active markets for identical assets or liabilities and are the most observable. Level 2 inputs include inputs other than Level 1 that are either directly or indirectly observable, such as quoted market prices for similar but not identical assets or liabilities, quoted prices in inactive markets or other inputs that can be corroborated by observable market data. Level 3 inputs are not observable, are supported by little or no market activity and include management’s judgments about the assumptions market participants would use in pricing the asset or liability. The financial assets that were accounted for at fair value on a recurring basis at July 31, 2017 and July 31, 2016, all using Level 1 inputs, are as follows: July 31, 2017 July 31, 2016 Cash equivalents $ 176,663 $ 143,282 Deferred compensation plan assets $ 28,095 $ 15,529 Cash equivalents represent investments in government and other money market funds traded in an active market, and are reported as a component of Cash and cash equivalents in the Consolidated Balance Sheets. Deferred compensation plan assets represent investments in securities (primarily mutual funds) traded in an active market held for the benefit of certain employees of the Company as part of a deferred compensation plan. Deferred compensation plan asset balances are recorded as components of Other long-term assets in the Consolidated Balance Sheets. An equal and offsetting liability is also recorded in regards to the deferred compensation plan as a component of Other long-term liabilities in the Consolidated Balance Sheets. Changes in the fair value of the plan assets and the related liability are reflected in Other income, net and Selling, general and administrative expenses, respectively, in the Consolidated Statements of Income and Comprehensive Income.

PRODUCT WARRANTY

PRODUCT WARRANTY	12 Months Ended
	Jul. 31, 2017
Guarantees and Product Warranties [Abstract]
PRODUCT WARRANTY	10. PRODUCT WARRANTY The Company generally provides retail customers of its products with a one-year or two-year warranty covering defects in material or workmanship, with longer warranties on certain structural components. 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 liabilities are adequate. However, actual claims incurred could differ from estimates, requiring adjustments to the reserves. Warranty liabilities are reviewed and adjusted as necessary on at least a quarterly basis. 2017 2016 2015 Beginning balance $ 201,840 $ 108,206 $ 94,938 Provision 195,799 114,119 114,429 Payments (180,858 ) (110,092 ) (106,266 ) Acquisitions – 89,607 5,105 Ending balance $ 216,781 $ 201,840 $ 108,206

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
	Jul. 31, 2017
Debt Disclosure [Abstract]
LONG-TERM DEBT	11. LONG-TERM DEBT The Company has a five-year credit agreement, which was entered into on June 30, 2016 and matures on June 30, 2021. The agreement provides for a $500,000 asset-based revolving credit facility and a $100,000 expansion option, subject to certain conditions. Borrowings outstanding on this facility totaled $145,000 at July 31, 2017 and $360,000 at July 31, 2016, and are subject to a variable pricing structure which can result in increases or decreases to the interest rate. Under the terms of the credit agreement, the Company can elect to borrow funds under two different structures. The first option is a variable interest rate based upon the prime rate plus a pricing spread (“Base Rate”). The second option is a variable interest rate based upon the London Interbank Offered Rate plus a pricing spread (“LIBOR Rate”). Depending on the Company’s borrowing availability as a percentage of the revolving credit commitment, pricing spreads can range from 1.25% to 1.75% in the case of loans bearing interest at the LIBOR Rate, and from 0.25% to 0.75% for loans bearing interest at the Base Rate. As of July 31, 2017, all of the $145,000 in outstanding borrowings were loans bearing interest at the LIBOR Rate, and the borrowing spread on those loans was 1.50%, resulting in a total rate of approximately 2.72%. The revolving credit facility, which is secured by substantially all of the Company’s tangible and intangible assets excluding real property, contains customary limits and restrictions concerning investments, sales of assets, liens on assets, stock repurchases and dividend and other payments depending on adjusted excess cash availability as defined in the agreement and summarized below. The terms of the facility permit prepayment without penalty at any time, subject to customary breakage costs relative to the LIBOR-based loans. Borrowing availability under the credit agreement is limited to the lesser of the facility total and the monthly calculated borrowing base, which is based on stipulated loan percentages applied to specified assets of the Company. The credit agreement has no financial covenant restrictions for borrowings as long as the Company has adjusted excess availability under the facility that exceeds 10% of the lesser of the line commitment or the borrowing base total, with a floor of $40,000. As of July 31, 2017, the available and unused credit line under the revolver was $352,675, and the Company was in compliance with the financial covenant in the credit agreement In fiscal 2017, total LIBOR Rate and Base Rate interest expense on the facility was $7,002 and the weighted-average interest rate on borrowings from the facility was 2.34%. In fiscal 2016, total LIBOR Rate and Base Rate interest expense on the facility was $789 and the weighted-average interest rate on borrowings from the facility was 2.55%. The Company incurred fees to secure the facility of $7,850 in fiscal 2016, and those fees are being amortized ratably over the five-year term of the agreement, or a shorter period if the credit agreement period is shortened for any reason. The Company recorded charges related to the amortization of these fees, which are reflected in interest expense, of $1,570 in fiscal 2017 and $131 in fiscal 2016. The unamortized balances of these facility fees were $6,149 at July 31, 2017 and $7,719 at July 31, 2016 and are included in Other long-term assets in the Consolidated Balance Sheets. The carrying value of the Company’s long-term debt at July 31, 2017 approximates fair value as the entire balance is subject to variable market interest rates that the Company believes are market rates for a similarly situated Company. The fair value of debt is largely estimated using level 2 inputs as defined by ASC 820 and discussed in Note 9 to the Consolidated Financial Statements.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jul. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	12. INCOME TAXES The components of the provision (benefit) for income taxes from continuing operations are as follows: July 31, Income Taxes: 2017 2016 2015 Federal $ 200,370 $ 126,846 $ 98,504 State and local 20,941 12,716 1,222 Total current expense 221,311 139,562 99,726 Federal (37,033 ) (13,079 ) (7,785 ) State and local (2,146 ) (1,192 ) (1,055 ) Total deferred (benefit) (39,179 ) (14,271 ) (8,840 ) Total income tax expense $ 182,132 $ 125,291 $ 90,886 The differences between income taxes at the federal statutory rate and the actual income taxes are as follows: July 31, 2017 2016 2015 Provision at federal statutory rate $ 194,735 $ 134,160 $ 102,513 State and local income taxes, net of federal benefit 11,021 6,599 5,144 Federal income tax credits and incentives (3,228 ) (4,194 ) (2,207 ) Domestic production activities deduction (19,527 ) (12,609 ) (9,519 ) Change in uncertain tax positions 375 611 (5,650 ) Other (1,244 ) 724 605 Total income tax expense $ 182,132 $ 125,291 $ 90,886 A summary of deferred income taxes is a follows: July 31, 2017 2016 Deferred income tax asset (liability): Inventory basis $ 1,460 $ 1,196 Employee benefits 6,471 4,587 Self-Insurance Reserves 9,940 10,504 Accrued product warranties 73,393 43,388 Accrued incentives 6,175 5,154 Sales returns and allowances 2,340 1,642 Accrued expenses 3,399 2,607 Property, plant and equipment (8,151 ) (4,164 ) Deferred compensation 14,556 9,145 Intangibles (17,184 ) (22,308 ) Unrecognized tax benefits 3,925 4,105 Other (3,355 ) (2,439 ) Deferred income tax asset, net $ 92,969 $ 53,417 As of July 31, 2017, the Company has $1,882 of state tax credit carry forwards that expire from fiscal 2026-2027 which the Company expects to realize prior to expiration. In addition, the Company has $8,973 of gross state tax Net Operating Loss (“NOL”) carry forwards that expire from fiscal 2018-2037 that the Company does not expect to realize and therefore has been fully reserved. The deferred tax asset of $422 associated with the state tax NOL carry forwards and the related equal and offsetting valuation allowance are not reflected in the table above. Unrecognized Tax Benefits: The benefits of tax positions reflected on income tax returns but whose outcome remains uncertain are only recognized for financial accounting purposes if they meet minimum recognition thresholds. The total amount of unrecognized tax benefits that, if recognized, would have impacted the Company’s effective tax rate were $8,477 for fiscal 2017, $8,886 for fiscal 2016 and $8,764 for fiscal 2015. Changes in the unrecognized tax benefit during fiscal years 2017, 2016 and 2015 were as follows: 2017 2016 2015 Beginning balance $ 13,269 $ 13,156 $ 20,813 Tax positions related to prior years: Additions 75 1,546 126 Reductions (1,510 ) (920 ) (7,695 ) Tax positions related to current year: Additions 3,853 3,123 2,858 Settlements (1,450 ) (956 ) (1,898 ) Lapses in statute of limitations (1,566 ) (2,680 ) (1,048 ) Ending balance $ 12,671 $ 13,269 $ 13,156 It is the Company’s policy to recognize interest and penalties accrued relative to unrecognized tax benefits in income tax expense. The total amount of liabilities accrued for interest and penalties related to unrecognized tax benefits as of July 31, 2017 and 2016 were $1,209 and $1,547, respectively. The total amount of interest and penalties benefit recognized in the Consolidated Statements of Income and Comprehensive Income for the fiscal years ended July 31, 2017, 2016 and 2015 were $218, $231 and $2,552, respectively. The total unrecognized tax benefits above, along with the related accrued interest and penalties, are reported within the liability section of the Consolidated Balance Sheets. A portion of the unrecognized tax benefits is classified as short-term and is included in the “Income and other taxes” line of the Consolidated Balance Sheets, while the remainder is classified as a long-term liability. The components of total unrecognized tax benefits are summarized as follows: July 31, 2017 2016 Unrecognized tax benefits $ 12,671 $ 13,269 Reduction to unrecognized tax benefits for tax credit carry forward (1,882 ) (2,255 ) Accrued interest and penalties 1,209 1,547 Total unrecognized tax benefits $ 11,998 $ 12,561 Short-term, included in “Income and other taxes” $ 1,735 $ 2,586 Long-term 10,263 9,975 Total unrecognized tax benefits $ 11,998 $ 12,561 The Company anticipates a decrease of approximately $3,950 in unrecognized tax benefits and $500 in interest during fiscal 2018 from expected settlements or payments of uncertain tax positions and lapses of the applicable statutes of limitations. Actual results may differ from these estimates. Generally, fiscal years 2015 and 2016 remain open for federal income tax purposes and fiscal years 2013, 2014, 2015 and 2016 remain open for state and Canadian 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 under exam by various state authorities for the fiscal years ended July 31, 2013 through 2015. The Company believes it has adequately reserved for its exposure to additional payments for uncertain tax positions related to its state income tax returns in its liability for unrecognized tax benefits.

CONTINGENT LIABILITIES AND COMM

CONTINGENT LIABILITIES AND COMMITMENTS	12 Months Ended
	Jul. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
CONTINGENT LIABILITIES AND COMMITMENTS	13. 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 RV products. These arrangements, which are customary in the RV industry, provide for the repurchase of products sold to dealers in the event of default by the dealer on their agreement to pay the financial institution. The repurchase price is generally determined by the original sales price of the product and 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, the Company may also be required to repurchase inventory relative to dealer terminations in certain states in accordance with state laws or regulatory requirements. The repurchase activity related to dealer terminations in certain states has historically been insignificant in relation to our repurchase obligation with financial institutions. The Company’s total commercial commitments under standby repurchase obligations on dealer inventory financing as of July 31, 2017 and July 31, 2016 were $2,200,544 and $1,898,307, respectively. The commitment term is generally up to eighteen months. The Company accounts for the guarantee under repurchase agreements of dealers’ financing by deferring a portion of the related product sale that represents the estimated fair value of the guarantee at inception. The estimated fair value takes into account an estimate of the losses that may be incurred upon resale of any repurchases. This estimate is based on recent historical experience supplemented by the Company’s assessment of current economic and other conditions affecting its dealers. This deferred amount is included in the repurchase and guarantee reserve balances of $6,345 and $6,068 as of July 31, 2017 and July 31, 2016, respectively, which are included in Other current liabilities in the Consolidated Balance Sheets. The following table reflects losses incurred related to repurchase agreements that were settled in the past three fiscal years. 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: 2017 2016 2015 Cost of units repurchased $ 4,453 $ 4,650 $ 7,171 Realization of units resold 4,151 3,832 5,906 Losses due to repurchase $ 302 $ 818 $ 1,265 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.

LEASES

LEASES	12 Months Ended
	Jul. 31, 2017
Leases [Abstract]
LEASES	14. LEASES The Company has operating leases principally for land, buildings and equipment and also leases certain real estate and transportation equipment under various capital leases expiring between 2017 and 2028. Future minimum rental payments required under capital and operating leases as of July 31, 2017 are as follows: Capital Leases Operating Leases For the fiscal year ending July 31, 2018 $ 948 $ 2,547 For the fiscal year ending July 31, 2019 938 2,152 For the fiscal year ending July 31, 2020 933 1,434 For the fiscal year ending July 31, 2021 951 1,123 For the fiscal year ending July 31, 2022 973 907 For the fiscal year ending July 31, 2023 and thereafter 5,015 7,493 Total minimum lease payments 9,758 $ 15,656 Less amount representing interest (3,285 ) Present value of net minimum capital lease payments 6,473 Less current portion (378 ) Long-term capital lease obligations $ 6,095 The current portion of capital lease obligations are included in Other current liabilities and the long-term capital lease obligations are included in Other long-term liabilities, respectively, in the Consolidated Balance Sheets. Rent expense for the fiscal years ended July 31, 2017, 2016 and 2015 was $3,560, $3,757 and $2,092, respectively.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Jul. 31, 2017
Postemployment Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	15. EMPLOYEE BENEFIT PLANS Substantially all non-highly compensated employees are eligible to participate in a 401(k) plan. The Company may make discretionary contributions to the 401(k) plan according to a matching formula determined by each operating subsidiary. Total expense for the plan was $1,797 in fiscal 2017, $917 in fiscal 2016 and $565 in fiscal 2015. The Company has established a deferred compensation plan for highly compensated employees who are not eligible to participate in a 401(k) plan. This plan allows participants to defer a portion of their compensation and to direct the Company to invest the funds in mutual fund investments held by the Company. Participant benefits are limited to the value of the investments held on their behalf. Investments held by the Company are accounted for at fair value and reported as Other long-term assets, and the equal and offsetting obligation to the participants is reported as Other long-term liabilities in the Consolidated Balance Sheets. Changes in the fair value of the plan assets and the related deferred liability are both recorded through the Consolidated Statements of Income and Comprehensive Income. The Company does not make contributions to the plan. The balance of investments held in this plan, and the equal and offsetting long-term liability to the participants, was $28,095 at July 31, 2017 and $15,529 at July 31, 2016.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Jul. 31, 2017
Equity [Abstract]
STOCKHOLDERS' EQUITY	16. STOCKHOLDERS’ EQUITY Treasury Stock The Company entered into a repurchase agreement, dated May 15, 2015 (the “May 15, 2015 Repurchase Agreement”), to purchase certain shares of its common stock from the Thompson Family Foundation (the “Foundation”) in a private transaction. Pursuant to the terms of the May 15, 2015 Repurchase Agreement, the Company purchased 1,000,000 shares of its common stock at a price of $60.00 per share from the Foundation, and held them as treasury stock, representing an aggregate purchase price of $60,000. The closing price of Thor common stock on May 15, 2015 was $61.29. The Foundation holds shares of common stock of the Company previously owned by the late Wade F. B. Thompson, the Company’s co-founder and former Chief Executive Officer. At the time of the repurchase transaction, Alan Siegel, a member of the board of directors of the Company (the “Board”), served as a director of the Foundation. The repurchase transaction was evaluated and approved by members of the Board who are not affiliated with the Foundation. The transaction was consummated on May 19, 2015, and the Company used available cash to purchase the shares. The number of shares repurchased by the Company represented 1.9% of the Company’s issued and outstanding common stock immediately prior to the repurchase. Stock-Based Compensation The Board approved the Thor Industries, Inc. 2016 Equity and Incentive Plan (the “2016 Equity and Incentive Plan”) on October 11, 2016 and the 2010 Equity Incentive Plan (the “2010 Equity Incentive Plan”) on October 25, 2010. These plans were subsequently approved by shareholders at the 2016 and 2010 annual meetings, respectively. The maximum number of shares issuable under each of the 2016 Equity and Incentive Plan and the 2010 Equity and Incentive Plan is 2,000,000. As of July 31, 2017, the remaining shares available to be granted under the 2016 Equity and Incentive Plan are 1,834,021 and under the 2010 Equity Incentive Plan are 1,211,385. Awards may be in the form of options (incentive stock options and non-statutory stock options), restricted stock, restricted stock units, performance compensation awards and stock appreciation rights. Restricted Stock Awards 2017 2016 2015 Shares Weighted- Date Fair Value Shares Weighted- Date Fair Value Shares Weighted- Date Fair Value Nonvested, beginning of year 5,806 $ 31.36 9,713 $ 31.16 13,620 $ 31.08 Granted – – – – – – Vested (3,907 ) 30.87 (3,907 ) 30.87 (3,907 ) 30.87 Forfeited – – – – – – Nonvested, end of year 1,899 $ 32.36 5,806 $ 31.36 9,713 $ 31.16 In fiscal 2017, 2016 and 2015, the Company recorded expense for restricted stock awards under this Plan of $101, $115 and $115, respectively. At July 31, 2017, there were no unrecognized future compensation costs related to restricted stock. This restricted stock vests evenly over 5 years from the date of grant. During fiscal 2013, the Compensation and Development Committee of the Board (the “Committee”) approved a program to award restricted stock units (the “RSU program”) to certain employees at the operating subsidiary and corporate levels. In December 2016, the stockholders of the Company approved a new equity compensation plan that allows the RSU program to continue in subsequent years on similar terms, but now includes a double-trigger change in control provision. The double-trigger provision, which is applicable to awards granted in fiscal 2017 and subsequent years, stipulates that immediate vesting of an outstanding grant would occur only upon the occurrence of both a change in control, as defined by the plan, and a corresponding change in employment status. Under the RSU program, the Committee has approved awards each October related to the financial performance of the most recently completed fiscal year since 2012. The awarded employee restricted stock units vest, and shares of common stock are issued, in equal installments on the first, second and third anniversaries of the date of grant. In addition, concurrent with the timing of the employee awards, the Nominating and Governance Committee of the Board has awarded restricted stock units to Board members that will vest, and shares of common stock will be issued, on the first anniversary of the date of the grant. The fair value of the employee and Board member restricted stock units is determined using the Company’s stock price on the date of grant. Total expense recognized in fiscal 2017, 2016 and 2015 for these restricted stock unit awards was $12,399, $9,272 and $6,661 respectively. Restricted Stock Units 2017 2016 2015 Restricted Stock Weighted- Date Fair Value Restricted Stock Weighted- Date Fair Value Restricted Stock Weighted- Date Fair Value Nonvested, beginning of year 325,136 $ 53.95 280,353 $ 50.55 212,073 $ 49.21 Granted 166,567 84.85 181,872 55.37 162,967 50.95 Vested (157,315 ) 53.87 (133,758 ) 48.73 (90,608 ) 48.14 Forfeited (1,812 ) 64.03 (3,331 ) 54.18 (4,079 ) 50.54 Nonvested, end of year 332,576 $ 69.41 325,136 $ 53.95 280,353 $ 50.55 At July 31, 2017 there was $16,679 of total unrecognized compensation costs related to restricted stock unit awards that is expected to be recognized over a weighted-average period of 2.28 years. Total non-cash compensation expense recognized for restricted stock awards and restricted stock unit awards in fiscal 2017, 2016 and 2015 was $12,500, $9,387 and $6,776, respectively. The Company recognized a tax benefit related to total stock based compensation expense of $4,625, $3,473 and $2,507 in fiscal 2017, 2016 and 2015, respectively.

SUMMARY OF SIGNIFICANT ACCOUN24

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jul. 31, 2017
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations The Company’s ongoing business activities are primarily comprised of two distinct operations, which include the design, manufacture and sale of towable recreational vehicles and motorized recreational vehicles. Accordingly, the Company has presented segmented financial information for these two segments in Note 4 to the Consolidated Financial Statements. See Note 3 to the Consolidated Financial Statements for a description of the Company’s former bus operations which were sold as of October 20, 2013. Accordingly, the accompanying financial statements (including footnote disclosures unless otherwise indicated) reflect these operations as discontinued operations apart from the Company’s continuing operations. Certain amounts for fiscal 2016 and fiscal 2015 included in Note 12 to the Consolidated Financial Statements have been reclassified to conform to the fiscal 2017 presentation.
Principles of Consolidation	Principles of Consolidation
Estimates	Estimates
Cash and Cash Equivalents	Cash and Cash Equivalents
Fair Value of Financial Instruments	Fair Value of Financial Instruments
Inventories	Inventories
Depreciation	Depreciation Buildings and improvements – 10 to 39 years Machinery and equipment – 3 to 10 years Depreciation expense is recorded in cost of products sold except for $5,710, $3,812 and $2,362 in fiscal 2017, 2016 and 2015, respectively, which relates primarily to office buildings and office equipment and is recorded in selling, general and administrative expenses.
Intangible Assets	Intangible Assets Backlog is amortized using a straight-line basis method over periods up to 3 months. Goodwill is not amortized but is tested at least annually for impairment. Goodwill is reviewed for impairment by applying a fair-value based test on an annual basis, or more frequently if events or circumstances indicate a potential impairment.
Long-lived Assets	Long-lived Assets – Property, plant and equipment and identifiable intangibles that are amortized are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable from future cash flows. If the carrying value of a long-lived asset is impaired, an impairment charge is recorded for the amount by which the carrying value of the long-lived asset exceeds its fair value.
Product Warranties	Product Warranties
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts
Insurance Reserves	Insurance Reserves
Revenue Recognition	Revenue Recognition 1) An order for a product has been received from a dealer; 2) Written or oral approval for payment has been received from the dealer’s flooring institution, if applicable; 3) A common carrier signs the delivery ticket accepting responsibility for the product as agent for the dealer; and 4) The product is removed from the Company’s property for delivery to the dealer who placed the order. These conditions are generally met when title passes, which is when vehicles are shipped to dealers in accordance with shipping terms, which are primarily FOB shipping point. Most sales are made to dealers financing their purchases under flooring arrangements with banks or finance companies. Certain shipments are sold to customers on credit or cash on delivery (“COD”) terms. The Company recognizes revenue on credit sales upon shipment and COD sales upon payment and delivery. Products are not sold on consignment, dealers do not have the right to return products and dealers are typically responsible for interest costs to floor plan lenders. At the time of revenue recognition, amounts billed to dealers for delivery of product are recognized as revenue and the corresponding delivery expense charged to costs of products sold. Revenues from the sale of extruded aluminum components are recognized when title to products and the risk of loss are transferred to the customer.
Dealer Volume Rebates, Sales Incentives and Advertising Costs	Dealer Volume Rebates, Sales Incentives and Advertising Costs
Repurchase Agreements	Repurchase Agreements – 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 price is generally determined by the original sales price of the product and pre-defined curtailment arrangements and the Company typically resells the repurchased product at a discount from its repurchase price. The Company accounts for the guarantee under its repurchase agreements with our dealers’ financing institutions by estimating and deferring a portion of the related product sale that represents the estimated fair value of the repurchase obligation. The estimated fair value takes into account our estimate of the loss we will incur upon resale of any repurchases. This estimate is based on recent historical experience supplemented by management’s assessment of current economic and other conditions affecting our dealers. This deferred amount is included in our repurchase and guarantee reserve which is included in Other current liabilities in the Consolidated Balance Sheets.
Income Taxes	Income Taxes – The Company recognizes liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step requires the Company to estimate and measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. It is inherently difficult and subjective to estimate such amounts, as the Company has to determine the probability of various possible outcomes. The Company reevaluates these uncertain tax positions on a quarterly basis. This evaluation is based on factors including, but not limited to, changes in facts or circumstances, changes in tax law, effectively settled issues under audit, voluntary settlements and new audit activity. Such a change in recognition or measurement would result in the recognition of a tax benefit or an additional charge to the tax provision. Significant judgment is required in determining the Company’s provision for income taxes, the Company’s deferred tax assets and liabilities and the valuation allowance recorded against the Company’s deferred tax assets, if any. Valuation allowances must be considered due to the uncertainty of realizing deferred tax assets. The Company assesses whether valuation allowances should be established against our deferred tax assets on a tax jurisdictional basis based on the consideration of all available evidence, including cumulative income over recent periods, using a more likely than not standard. The valuation allowance activity during the year was not material.
Stock-Based Compensation	Stock-Based Compensation
Earnings Per Share	Earnings Per Share 2017 2016 2015 Weighted-average shares outstanding for basic earnings per share 52,562,723 52,458,789 53,166,206 Unvested restricted stock and restricted stock units 195,719 131,727 109,304 Weighted-average shares outstanding assuming dilution 52,758,442 52,590,516 53,275,510 The Company excludes unvested restricted stock and restricted stock units that have an antidilutive effect from its calculation of weighted-average shares outstanding assuming dilution, but had none at July 31, 2017, 2016 or 2015.
Accounting Pronouncements	Accounting Pronouncements In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-04, “Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment,” which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge (referred to as Step 2 in the goodwill impairment test). Instead, if the carrying amount of a reporting unit exceeds its fair value, an impairment charge equal to that excess shall be recognized, not to exceed the amount of goodwill allocated to the reporting unit. The standard is effective for annual and any interim impairment tests for periods beginning after December 15, 2019, with early adoption permitted after January 1, 2017. ASU No. 2017-04 is effective for the Company in its fiscal year 2021 beginning on August 1, 2020. The Company is currently evaluating the impact of this standard on its consolidated financial statements, which will depend on the outcomes of future goodwill impairment tests. In March 2016, the FASB issued Accounting Standards Update No. 2016-09 (“ASU 2016-09”), “Improvements to Employee Share-Based Payment Accounting,” which simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for the related income taxes, forfeitures, statutory tax withholding requirements and classification in the statement of cash flows. ASU 2016-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. Early adoption is permitted and the Company adopted the provisions of ASU 2016-09 as of August 1, 2016. Applicable provisions of the standard were adopted prospectively as allowed under this ASU. The provisions related to income taxes resulted in a tax benefit of $1,898 for fiscal 2017. The Company did not change its policy related to forfeitures, which is estimated based on historical forfeiture rates over the vesting period of employee awards. Provisions related to the statement of cash flows have been adopted prospectively and result in the recognition of the excess tax benefits from share-based awards being reflected in cash provided by operating activities. In February 2016, the FASB issued Accounting Standards Update No. 2016-02 (“ASU 2016-02”), “Leases (Topic 842),” which provides guidance on the recognition, measurement, presentation, and disclosure of leases. ASU 2016-02 requires the recognition of lease assets and lease liabilities by lessees for all leases with terms greater than 12 months. The principal difference from current guidance is that the lease assets and lease liabilities arising from operating leases will be recognized on the Consolidated Balance Sheet. This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted. The ASU is effective for the Company in its fiscal year 2020 beginning on August 1, 2019. The Company is currently evaluating the impact that implementing this ASU will have on its financial statements. In September 2015, the FASB issued Accounting Standards Update No. 2015-16 (“ASU 2015-16”), “Business Combinations (Topic 805): Simplifying the Accounting for Measurement Period Adjustments,” to simplify the accounting for measurement-period adjustments in a business combination. Under the new standard, an acquirer must recognize adjustments to provisional amounts in a business combination in the reporting period in which the adjustment amounts are determined, rather than retrospectively adjusting the provisional amounts recognized at the acquisition date with a corresponding adjustment to goodwill as under current guidance. ASU 2015-16 is effective for fiscal years, and the interim periods within those years, beginning after December 15, 2015. The Company adopted ASU 2015-16 on August 1, 2016 and there was no impact upon its adoption. In July 2015, the FASB issued Accounting Standards Update No. 2015-11 (“ASU 2015-11”), “Inventory (Topic 330): Simplifying the Measurement of Inventory.” ASU 2015-11 requires inventory measured using any method other than last-in, first-out (“LIFO”) or the retail inventory method to be subsequently measured at the lower of cost or net realizable value, rather than at the lower of cost or market. Under this standard, subsequent measurement of inventory using the LIFO and retail inventory method is unchanged. ASU 2015-11 is effective prospectively for fiscal years, and for interim periods within those years, beginning after December 15, 2016. ASU 2015-11 is effective for the Company in its fiscal year 2018 beginning on August 1, 2017. The Company does not expect the adoption of ASU 2015-11 to have a material impact on its consolidated financial statements. In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (“ASU 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 new standard will also require additional qualitative and quantitative disclosures about contracts with customers, significant judgments made in applying the revenue guidance, and assets recognized from the costs to obtain or fulfill a contract. ASU 2014-09 is effective for fiscal years, and the interim periods within those years, beginning after December 15, 2017. The standard is effective for the Company in its fiscal year 2019 beginning on August 1, 2018. In applying the ASU, entities have the option of using either a full retrospective transition or a modified retrospective approach with the cumulative effect recognized as of the date of adoption. The Company is currently evaluating the approach it will use to apply the ASU and the impact that the adoption of the ASU will have on the Company’s consolidated financial statements including the impact on financial statement disclosure under the ASU.

SUMMARY OF SIGNIFICANT ACCOUN25

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Jul. 31, 2017
Accounting Policies [Abstract]
Schedule of Difference Between Basic and Diluted EPS as Result of Unvested Restricted Stock and Restricted Stock Units	The difference between basic EPS and diluted EPS is the result of unvested restricted stock and restricted stock units as follows: 2017 2016 2015 Weighted-average shares outstanding for basic earnings per share 52,562,723 52,458,789 53,166,206 Unvested restricted stock and restricted stock units 195,719 131,727 109,304 Weighted-average shares outstanding assuming dilution 52,758,442 52,590,516 53,275,510

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Jul. 31, 2017
Unaudited Pro Forma Information	The following unaudited pro forma information represents the Company’s results of operations as if the fiscal 2016 acquisition of Jayco had occurred at the beginning of fiscal 2015: Fiscal Year Ended Net sales $ 6,176,686 Net income $ 284,394 Basic earnings per common share $ 5.42 Diluted earnings per common share $ 5.41
Jayco, Inc.
Summary of Final Fair Value Assigned to Assets Acquired	The following table summarizes the final fair values assigned to the Jayco net assets acquired, which are based on internal and independent external valuations: Cash $ 18,409 Other current assets 258,158 Property, plant and equipment 80,824 Dealer network 261,100 Trademarks 92,800 Backlog 12,400 Goodwill 74,184 Current liabilities (216,776 ) Total fair value of net assets acquired 581,099 Less cash acquired (18,409 ) Total cash consideration for acquisition, less cash acquired $ 562,690
Postle Operating, LLC
Summary of Final Fair Value Assigned to Assets Acquired	The following table summarizes the fair values assigned to the Postle net assets acquired, which are based on internal and independent external valuations: Cash $ 2,963 Other current assets 54,780 Property, plant and equipment 32,251 Customer relationships 38,800 Trademarks 6,000 Backlog 300 Goodwill 42,871 Current liabilities (23,729 ) Capital lease obligations (7,225 ) Total fair value of net assets acquired 147,011 Less cash acquired (2,963 ) Total cash consideration for acquisition, less cash acquired $ 144,048
Cruiser RV, LLC and DRV, LLC
Summary of Final Fair Value Assigned to Assets Acquired	The following table summarizes the final fair values assigned to the CRV and DRV net assets acquired, which are based on internal and independent external valuations: Cash $ 1,062 Other current assets 22,175 Property, plant and equipment 4,533 Dealer network 14,300 Trademarks 5,400 Backlog 450 Goodwill 13,172 Current liabilities (12,507 ) Total fair value of net assets acquired 48,585 Less cash acquired (1,062 ) Total cash consideration for acquisition, less cash acquired $ 47,523

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Jul. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Operating Results of Discontinued Operations	The following table summarizes the results of discontinued operations: 2017 2016 2015 Loss before income taxes $ – $ (2,417 ) $ (4,791 ) Income tax benefit – 914 2,167 Loss from discontinued operations, net of income taxes $ – $ (1,503 ) $ (2,624 )

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	12 Months Ended
	Jul. 31, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information by Segment	2017 2016 2015 Net sales: Recreational vehicles Towables $ 5,127,491 $ 3,338,659 $ 3,096,405 Motorized 1,971,466 1,094,250 870,799 Total recreational vehicles 7,098,957 4,432,909 3,967,204 Other 253,557 218,673 56,594 Intercompany eliminations (105,562 ) (69,470 ) (16,979 ) Total $ 7,246,952 $ 4,582,112 $ 4,006,819 Income (loss) from continuing operations before income taxes: Recreational vehicles Towables $ 458,915 $ 321,874 $ 259,092 Motorized 125,323 88,523 66,746 Total recreational vehicles 584,238 410,397 325,838 Other 28,909 18,547 1,424 Intercompany eliminations (195 ) (23 ) (554 ) Corporate (56,566 ) (45,608 ) (33,813 ) Total $ 556,386 $ 383,313 $ 292,895 Total assets: Recreational vehicles Towables $ 1,535,029 $ 1,425,168 $ 907,175 Motorized 500,761 476,973 162,940 Total recreational vehicles 2,035,790 1,902,141 1,070,115 Other, net 156,996 156,822 161,075 Corporate 365,145 266,501 272,058 Total $ 2,557,931 $ 2,325,464 $ 1,503,248 Depreciation and amortization expense: Recreational vehicles Towables $ 75,568 $ 36,054 $ 26,296 Motorized 9,393 2,994 2,353 Total recreational vehicles 84,961 39,048 28,649 Other 11,967 12,352 1,678 Corporate 1,330 1,175 1,054 Total $ 98,258 $ 52,575 $ 31,381 Capital acquisitions: Recreational vehicles Towables $ 72,801 $ 37,489 $ 35,039 Motorized 41,677 11,191 4,309 Total recreational vehicles 114,478 48,680 39,348 Other 1,157 2,799 436 Corporate 2,120 2,495 3,271 Total $ 117,755 $ 53,974 $ 43,055

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Jul. 31, 2017
Inventory Disclosure [Abstract]
Schedule of Major Classifications of Inventories	Major classifications of inventories are: July 31, 2017 2016 Finished products – RV $ 24,904 $ 39,943 Finished products – other 27,862 20,141 Work in process 117,319 97,872 Raw materials 214,518 173,362 Chassis 109,555 102,686 Subtotal 494,158 434,004 Excess of FIFO costs over LIFO costs (33,670 ) (30,135 ) Total inventories $ 460,488 $ 403,869

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Jul. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment is stated at cost, net of accumulated depreciation, and consists of the following: July 31, 2017 2016 Land $ 48,812 $ 46,422 Buildings and improvements 380,139 300,902 Machinery and equipment 161,724 133,112 Total cost 590,675 480,436 Less accumulated depreciation (165,437 ) (136,169 ) Net property, plant and equipment $ 425,238 $ 344,267

INTANGIBLE ASSETS, GOODWILL A31

INTANGIBLE ASSETS, GOODWILL AND LONG-LIVED ASSETS (Tables)	12 Months Ended
	Jul. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Components of Amortizable Intangible Assets	The components of amortizable intangible assets are as follows: July 31, 2017 July 31, 2016 Weighted-Average Remaining Life in Years Cost Accumulated Amortization Cost Accumulated Amortization Dealer networks/customer relationships 16 $ 404,960 $ 101,795 $ 404,960 $ 55,191 Trademarks 18 147,617 17,570 148,117 10,539 Design technology and other intangibles 8 19,300 9,203 22,400 10,870 Non-compete agreements 2 450 293 450 203 Backlog – – – 12,400 4,133 Total amortizable intangible assets $ 572,327 $ 128,861 $ 588,327 $ 80,936
Estimated Amortization Expense	Estimated amortization expense for future years is as follows: For the fiscal year ending July 31, 2018 $ 53,968 For the fiscal year ending July 31, 2019 50,136 For the fiscal year ending July 31, 2020 46,269 For the fiscal year ending July 31, 2021 42,935 For the fiscal year ending July 31, 2022 37,828 For the fiscal year ending July 31, 2023 and thereafter 212,330 $ 443,466
Changes in Carrying Amount of Goodwill by Reportable Segment	Changes in the carrying amount of goodwill by reportable segment as of July 31, 2017 and 2016 are summarized as follows: Towables Motorized Other Total Net balance as of July 31, 2015 $ 269,751 $ – $ 42,871 $ 312,622 Fiscal year 2016 activity: Goodwill acquired 74,184 – – 74,184 Impairment charges (9,113 ) – – (9,113 ) Net balance as of July 31, 2016 $ 334,822 $ – $ 42,871 $ 377,693 Fiscal year 2017 activity: No activity – – – – Net balance as of July 31, 2017 $ 334,822 $ – $ 42,871 $ 377,693 The components of the net balance as of July 31, 2017 are summarized as follows: Towables Motorized Other Total Goodwill $ 343,935 $ 17,252 $ 42,871 $ 404,058 Accumulated impairment charges (9,113 ) (17,252 ) – (26,365 ) Net balance as of July 31, 2017 $ 334,822 $ – $ 42,871 $ 377,693

INVESTMENTS AND FAIR VALUE ME32

INVESTMENTS AND FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Jul. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets Measured on Recurring Basis	The financial assets that were accounted for at fair value on a recurring basis at July 31, 2017 and July 31, 2016, all using Level 1 inputs, are as follows: July 31, 2017 July 31, 2016 Cash equivalents $ 176,663 $ 143,282 Deferred compensation plan assets $ 28,095 $ 15,529

PRODUCT WARRANTY (Tables)

PRODUCT WARRANTY (Tables)	12 Months Ended
	Jul. 31, 2017
Guarantees and Product Warranties [Abstract]
Schedule of Changes in Product Warranty Liabilities	2017 2016 2015 Beginning balance $ 201,840 $ 108,206 $ 94,938 Provision 195,799 114,119 114,429 Payments (180,858 ) (110,092 ) (106,266 ) Acquisitions – 89,607 5,105 Ending balance $ 216,781 $ 201,840 $ 108,206

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jul. 31, 2017
Income Tax Disclosure [Abstract]
Schedule of Components of Provision (Benefit) for Income Taxes	The components of the provision (benefit) for income taxes from continuing operations are as follows: July 31, Income Taxes: 2017 2016 2015 Federal $ 200,370 $ 126,846 $ 98,504 State and local 20,941 12,716 1,222 Total current expense 221,311 139,562 99,726 Federal (37,033 ) (13,079 ) (7,785 ) State and local (2,146 ) (1,192 ) (1,055 ) Total deferred (benefit) (39,179 ) (14,271 ) (8,840 ) Total income tax expense $ 182,132 $ 125,291 $ 90,886
Schedule of Differences Between Income Taxes at Federal Statutory Rate and Actual Income Taxes	The differences between income taxes at the federal statutory rate and the actual income taxes are as follows: July 31, 2017 2016 2015 Provision at federal statutory rate $ 194,735 $ 134,160 $ 102,513 State and local income taxes, net of federal benefit 11,021 6,599 5,144 Federal income tax credits and incentives (3,228 ) (4,194 ) (2,207 ) Domestic production activities deduction (19,527 ) (12,609 ) (9,519 ) Change in uncertain tax positions 375 611 (5,650 ) Other (1,244 ) 724 605 Total income tax expense $ 182,132 $ 125,291 $ 90,886
Schedule of Deferred Income Taxes	A summary of deferred income taxes is a follows: July 31, 2017 2016 Deferred income tax asset (liability): Inventory basis $ 1,460 $ 1,196 Employee benefits 6,471 4,587 Self-Insurance Reserves 9,940 10,504 Accrued product warranties 73,393 43,388 Accrued incentives 6,175 5,154 Sales returns and allowances 2,340 1,642 Accrued expenses 3,399 2,607 Property, plant and equipment (8,151 ) (4,164 ) Deferred compensation 14,556 9,145 Intangibles (17,184 ) (22,308 ) Unrecognized tax benefits 3,925 4,105 Other (3,355 ) (2,439 ) Deferred income tax asset, net $ 92,969 $ 53,417
Schedule of Changes in Unrecognized Tax Benefit	Changes in the unrecognized tax benefit during fiscal years 2017, 2016 and 2015 were as follows: 2017 2016 2015 Beginning balance $ 13,269 $ 13,156 $ 20,813 Tax positions related to prior years: Additions 75 1,546 126 Reductions (1,510 ) (920 ) (7,695 ) Tax positions related to current year: Additions 3,853 3,123 2,858 Settlements (1,450 ) (956 ) (1,898 ) Lapses in statute of limitations (1,566 ) (2,680 ) (1,048 ) Ending balance $ 12,671 $ 13,269 $ 13,156
Components of Total Unrecognized Tax Benefits	The components of total unrecognized tax benefits are summarized as follows: July 31, 2017 2016 Unrecognized tax benefits $ 12,671 $ 13,269 Reduction to unrecognized tax benefits for tax credit carry forward (1,882 ) (2,255 ) Accrued interest and penalties 1,209 1,547 Total unrecognized tax benefits $ 11,998 $ 12,561 Short-term, included in “Income and other taxes” $ 1,735 $ 2,586 Long-term 10,263 9,975 Total unrecognized tax benefits $ 11,998 $ 12,561

CONTINGENT LIABILITIES AND CO35

CONTINGENT LIABILITIES AND COMMITMENTS (Tables)	12 Months Ended
	Jul. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Losses Due to Repurchases Related to Repurchase Agreements	The following table reflects losses incurred related to repurchase agreements that were settled in the past three fiscal years. 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: 2017 2016 2015 Cost of units repurchased $ 4,453 $ 4,650 $ 7,171 Realization of units resold 4,151 3,832 5,906 Losses due to repurchase $ 302 $ 818 $ 1,265

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Jul. 31, 2017
Leases [Abstract]
Future Minimum Rental Payments under Capital and Operating Leases	Future minimum rental payments required under capital and operating leases as of July 31, 2017 are as follows: Capital Leases Operating Leases For the fiscal year ending July 31, 2018 $ 948 $ 2,547 For the fiscal year ending July 31, 2019 938 2,152 For the fiscal year ending July 31, 2020 933 1,434 For the fiscal year ending July 31, 2021 951 1,123 For the fiscal year ending July 31, 2022 973 907 For the fiscal year ending July 31, 2023 and thereafter 5,015 7,493 Total minimum lease payments 9,758 $ 15,656 Less amount representing interest (3,285 ) Present value of net minimum capital lease payments 6,473 Less current portion (378 ) Long-term capital lease obligations $ 6,095

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Jul. 31, 2017
Restricted Stock Awards
Summary of Restricted Stock Award Activity	A summary of restricted stock award activity under the 2010 Equity and Incentive Plan for fiscal 2017, 2016 and 2015 is as follows: 2017 2016 2015 Shares Weighted- Date Fair Value Shares Weighted- Date Fair Value Shares Weighted- Date Fair Value Nonvested, beginning of year 5,806 $ 31.36 9,713 $ 31.16 13,620 $ 31.08 Granted – – – – – – Vested (3,907 ) 30.87 (3,907 ) 30.87 (3,907 ) 30.87 Forfeited – – – – – – Nonvested, end of year 1,899 $ 32.36 5,806 $ 31.36 9,713 $ 31.16
Restricted Stock Units (RSUs)
Summary of Restricted Stock Award Activity	A summary of restricted stock unit activity during fiscal 2017, 2016 and 2015 is included below: 2017 2016 2015 Restricted Stock Weighted- Date Fair Value Restricted Stock Weighted- Date Fair Value Restricted Stock Weighted- Date Fair Value Nonvested, beginning of year 325,136 $ 53.95 280,353 $ 50.55 212,073 $ 49.21 Granted 166,567 84.85 181,872 55.37 162,967 50.95 Vested (157,315 ) 53.87 (133,758 ) 48.73 (90,608 ) 48.14 Forfeited (1,812 ) 64.03 (3,331 ) 54.18 (4,079 ) 50.54 Nonvested, end of year 332,576 $ 69.41 325,136 $ 53.95 280,353 $ 50.55

Summary of Significant Accoun38

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	12 Months Ended
	Jul. 31, 2017USD ($)Segmentshares	Jul. 31, 2016USD ($)shares	Jul. 31, 2015USD ($)shares	Jul. 31, 2014USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of reportable segments | Segment	2
Cash and cash equivalents	$ 223,258	$ 209,902	$ 183,478	$ 289,336
Depreciation	34,333	24,613	15,366
Excess liability insurance	50,000
Advertising costs	$ 24,997	$ 14,472	$ 12,515
Maximum percentage of tax benefits realized upon ultimate settlement	50.00%
Antidilutive stock options, unvested restricted stock and restricted stock units outstanding | shares	0	0	0
New accounting pronouncement or change in accounting principle, effect of change on net income	$ 1,898
Trademarks
Summary Of Significant Accounting Policies [Line Items]
Intangible assets amortization period	18 years
Non-Compete Agreements
Summary Of Significant Accounting Policies [Line Items]
Intangible assets amortization period	2 years
Any occurrence after March 31,2015
Summary Of Significant Accounting Policies [Line Items]
Self-insured retention for products liability and personal injury matters	$ 500
Any occurrence after March 31, 2014 and through March 31, 2015
Summary Of Significant Accounting Policies [Line Items]
Self-insured retention for products liability and personal injury matters	1,000
Continuing Operations | Selling, General and Administrative Expenses
Summary Of Significant Accounting Policies [Line Items]
Depreciation	$ 5,710	$ 3,812	$ 2,362
Restricted Stock Units (RSUs)
Summary Of Significant Accounting Policies [Line Items]
Stock-based Compensation, requisite service period	3 years
Minimum
Summary Of Significant Accounting Policies [Line Items]
Self-insured retention for products liability and personal injury matters	$ 500
Minimum | Trademarks
Summary Of Significant Accounting Policies [Line Items]
Intangible assets amortization period	15 years
Minimum | Dealer Networks
Summary Of Significant Accounting Policies [Line Items]
Intangible assets amortization period	12 years
Minimum | Design Technology Assets
Summary Of Significant Accounting Policies [Line Items]
Intangible assets amortization period	2 years
Minimum | Non-Compete Agreements
Summary Of Significant Accounting Policies [Line Items]
Intangible assets amortization period	2 years
Minimum | Building and Building Improvements
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful life	10 years
Minimum | Machinery and Equipment
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful life	3 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Cash equivalents maturity period	3 months
Self-insured retention for products liability and personal injury matters	$ 7,500
Maximum | Trademarks
Summary Of Significant Accounting Policies [Line Items]
Intangible assets amortization period	25 years
Maximum | Dealer Networks
Summary Of Significant Accounting Policies [Line Items]
Intangible assets amortization period	20 years
Maximum | Design Technology Assets
Summary Of Significant Accounting Policies [Line Items]
Intangible assets amortization period	15 years
Maximum | Non-Compete Agreements
Summary Of Significant Accounting Policies [Line Items]
Intangible assets amortization period	15 years
Maximum | Backlog
Summary Of Significant Accounting Policies [Line Items]
Intangible assets amortization period	3 months
Maximum | Building and Building Improvements
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful life	39 years
Maximum | Machinery and Equipment
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful life	10 years
Held By One Financial Institution
Summary Of Significant Accounting Policies [Line Items]
Cash and cash equivalents	$ 211,408	$ 164,696

Schedule of Difference Between

Schedule of Difference Between Basic and Diluted EPS as Result of Unvested Restricted Stock and Restricted Stock Units (Detail) - shares	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Earnings Per Share [Abstract]
Weighted-average shares outstanding for basic earnings per share	52,562,723	52,458,789	53,166,206
Unvested restricted stock and restricted stock units	195,719	131,727	109,304
Weighted-average shares outstanding assuming dilution	52,758,442	52,590,516	53,275,510

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	May 01, 2015	Jan. 05, 2015	Jul. 31, 2015	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Business Acquisition [Line Items]
Borrowings on revolving credit facility						$ 360,000
Payment to acquire business, net					$ 5,039	$ 557,651	$ 194,486
Jayco, Corp.
Business Acquisition [Line Items]
Payment to acquire business	$ 576,060
Asset purchase agreement date	Jun. 30, 2016
Asset purchase effective date	Jun. 30, 2016
Purchase price adjustment	$ 5,039
Amortizable intangible assets, weighted average useful life	19 years 3 months 18 days
Payment to acquire business, net	$ 562,690
Cash on hand at the acquisition date	18,409
Jayco, Corp. | Consideration Funded By Credit Facility
Business Acquisition [Line Items]
Borrowings on revolving credit facility	$ 360,000
Postle Operating, LLC
Business Acquisition [Line Items]
Asset purchase agreement date							May 1, 2015
Asset purchase effective date					May 1, 2015
Amortizable intangible assets, weighted average useful life		12 years 3 months 18 days
Payment to acquire business, net		$ 144,048
Cash on hand at the acquisition date		$ 2,963
Cruiser RV, LLC and DRV, LLC
Business Acquisition [Line Items]
Payment to acquire business			$ 47,412
Asset purchase agreement date			Dec. 31, 2014
Purchase price adjustment				$ 1,173
Amortizable intangible assets, weighted average useful life			13 years 10 months 24 days
Payment to acquire business, net			$ 47,523	47,523
Cash on hand at the acquisition date			$ 1,062	$ 1,062			$ 1,062
Dealer Networks | Jayco, Corp.
Business Acquisition [Line Items]
Intangible assets amortization period	20 years
Amortizable intangible assets, amortization method					Accelerated cash flow basis
Dealer Networks | Cruiser RV, LLC and DRV, LLC
Business Acquisition [Line Items]
Intangible assets amortization period			12 years
Amortizable intangible assets, amortization method					Accelerated cash flow basis
Trademarks
Business Acquisition [Line Items]
Intangible assets amortization period					18 years
Trademarks | Jayco, Corp.
Business Acquisition [Line Items]
Intangible assets amortization period	20 years
Amortizable intangible assets, amortization method					Straight-line basis
Trademarks | Postle Operating, LLC
Business Acquisition [Line Items]
Intangible assets amortization period		15 years
Amortizable intangible assets, amortization method					Straight-line basis
Trademarks | Cruiser RV, LLC and DRV, LLC
Business Acquisition [Line Items]
Intangible assets amortization period			20 years
Amortizable intangible assets, amortization method					Straight-line basis
Backlog | Jayco, Corp.
Business Acquisition [Line Items]
Intangible assets amortization period	3 months
Amortizable intangible assets, amortization method					Straight-line basis
Backlog | Postle Operating, LLC
Business Acquisition [Line Items]
Intangible assets amortization period		42 days
Amortizable intangible assets, amortization method					Straight-line basis
Backlog | Cruiser RV, LLC and DRV, LLC
Business Acquisition [Line Items]
Intangible assets amortization period			42 days
Amortizable intangible assets, amortization method					Straight-line basis
Customer Relationships | Postle Operating, LLC
Business Acquisition [Line Items]
Intangible assets amortization period		12 years
Amortizable intangible assets, amortization method					Accelerated cash flow basis

Summary of Preliminary Fair Val

Summary of Preliminary Fair Value Assigned to Net Assets Acquired (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	May 01, 2015	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Business Acquisition [Line Items]
Goodwill			$ 377,693	$ 377,693	$ 312,622
Total cash consideration for acquisition, less cash acquired			$ 5,039	$ 557,651	$ 194,486
Jayco, Corp.
Business Acquisition [Line Items]
Cash	$ 18,409
Other current assets	258,158
Property, plant and equipment	80,824
Goodwill	74,184
Current liabilities	(216,776)
Total fair value of net assets acquired	581,099
Less cash acquired	(18,409)
Total cash consideration for acquisition, less cash acquired	562,690
Jayco, Corp. | Trademarks
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset	92,800
Jayco, Corp. | Backlog
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset	12,400
Jayco, Corp. | Dealer Networks
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset	$ 261,100
Postle Operating, LLC
Business Acquisition [Line Items]
Cash		$ 2,963
Other current assets		54,780
Property, plant and equipment		32,251
Goodwill		42,871
Current liabilities		(23,729)
Capital lease obligations		(7,225)
Total fair value of net assets acquired		147,011
Less cash acquired		(2,963)
Total cash consideration for acquisition, less cash acquired		144,048
Postle Operating, LLC | Customer Relationships
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset		38,800
Postle Operating, LLC | Trademarks
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset		6,000
Postle Operating, LLC | Backlog
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset		$ 300

Unaudited Pro Forma Information

Unaudited Pro Forma Information (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Jul. 31, 2016USD ($)$ / shares
Business Combinations [Abstract]
Net sales | $	$ 6,176,686
Net income | $	$ 284,394
Basic earnings per common share | $ / shares	$ 5.42
Diluted earnings per common share | $ / shares	$ 5.41

Summary of Final Fair Value Ass

Summary of Final Fair Value Assigned to Net Assets Acquired (Detail) - USD ($) $ in Thousands	Jan. 05, 2015	Jul. 31, 2015	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Business Acquisition [Line Items]
Goodwill		$ 312,622	$ 377,693	$ 377,693	$ 312,622
Total cash consideration for acquisition, less cash acquired			$ 5,039	$ 557,651	194,486
Cruiser RV, LLC and DRV, LLC
Business Acquisition [Line Items]
Cash	$ 1,062	1,062			$ 1,062
Other current assets	22,175
Property, plant and equipment	4,533
Goodwill	13,172
Current liabilities	(12,507)
Total fair value of net assets acquired	48,585
Less cash acquired	(1,062)
Total cash consideration for acquisition, less cash acquired	47,523	$ 47,523
Cruiser RV, LLC and DRV, LLC | Dealer Networks
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset	14,300
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

Operating Results of Discontinu

Operating Results of Discontinued Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Loss before income taxes		$ (2,417)	$ (4,791)
Income tax benefit		914	2,167
Loss from discontinued operations, net of income taxes	$ 0	$ (1,503)	$ (2,624)

Business Segments - Additional

Business Segments - Additional Information (Detail) $ in Thousands	12 Months Ended
	Jul. 31, 2017USD ($)Segment	Jul. 31, 2016USD ($)	Jul. 31, 2015USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment	2
Net sales	$ 7,246,952	$ 4,582,112	$ 4,006,819
Continuing Operations
Segment Reporting Information [Line Items]
Net sales	7,246,952	4,582,112	4,006,819
Continuing Operations | Export
Segment Reporting Information [Line Items]
Net sales	$ 628,176	$ 368,426	$ 465,642
Net sales, Percentage	8.70%	8.00%	11.60%
Postle Operating, LLC
Segment Reporting Information [Line Items]
Subsidiary acquisition date	May 1, 2015

Schedule of Segment Reporting I

Schedule of Segment Reporting Information by Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Segment Reporting Information [Line Items]
Net sales	$ 7,246,952	$ 4,582,112	$ 4,006,819
Income (loss) from continuing operations before income taxes	556,386	383,313	292,895
Operating Segments | Recreational vehicles
Segment Reporting Information [Line Items]
Income (loss) from continuing operations before income taxes	584,238	410,397	325,838
Operating Segments | Recreational vehicles | Towables
Segment Reporting Information [Line Items]
Income (loss) from continuing operations before income taxes	458,915	321,874	259,092
Operating Segments | Recreational vehicles | Motorized
Segment Reporting Information [Line Items]
Income (loss) from continuing operations before income taxes	125,323	88,523	66,746
Operating Segments | Other
Segment Reporting Information [Line Items]
Income (loss) from continuing operations before income taxes	28,909	18,547	1,424
Operating Segments | Corporate
Segment Reporting Information [Line Items]
Income (loss) from continuing operations before income taxes	(56,566)	(45,608)	(33,813)
Intercompany Eliminations
Segment Reporting Information [Line Items]
Income (loss) from continuing operations before income taxes	(195)	(23)	(554)
Continuing Operations
Segment Reporting Information [Line Items]
Net sales	7,246,952	4,582,112	4,006,819
Continuing Operations | Operating Segments | Recreational vehicles
Segment Reporting Information [Line Items]
Net sales	7,098,957	4,432,909	3,967,204
Continuing Operations | Operating Segments | Recreational vehicles | Towables
Segment Reporting Information [Line Items]
Net sales	5,127,491	3,338,659	3,096,405
Continuing Operations | Operating Segments | Recreational vehicles | Motorized
Segment Reporting Information [Line Items]
Net sales	1,971,466	1,094,250	870,799
Continuing Operations | Operating Segments | Other
Segment Reporting Information [Line Items]
Net sales	253,557	218,673	56,594
Continuing Operations | Intercompany Eliminations
Segment Reporting Information [Line Items]
Net sales	$ (105,562)	$ (69,470)	$ (16,979)

Schedule of Segment Reporting47

Schedule of Segment Reporting Information, by Segment Balance Sheet Item (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Segment Reporting Information [Line Items]
Total assets	$ 2,557,931	$ 2,325,464	$ 1,503,248
Depreciation and amortization expense, total	98,258	52,575	31,381
Capital acquisitions	117,755	53,974	43,055
Continuing Operations | Operating Segments | Recreational vehicles
Segment Reporting Information [Line Items]
Total assets	2,035,790	1,902,141	1,070,115
Depreciation and amortization expense, total	84,961	39,048	28,649
Capital acquisitions	114,478	48,680	39,348
Continuing Operations | Operating Segments | Recreational vehicles | Towables
Segment Reporting Information [Line Items]
Total assets	1,535,029	1,425,168	907,175
Depreciation and amortization expense, total	75,568	36,054	26,296
Capital acquisitions	72,801	37,489	35,039
Continuing Operations | Operating Segments | Recreational vehicles | Motorized
Segment Reporting Information [Line Items]
Total assets	500,761	476,973	162,940
Depreciation and amortization expense, total	9,393	2,994	2,353
Capital acquisitions	41,677	11,191	4,309
Continuing Operations | Operating Segments | Other
Segment Reporting Information [Line Items]
Total assets	156,996	156,822	161,075
Depreciation and amortization expense, total	11,967	12,352	1,678
Capital acquisitions	1,157	2,799	436
Continuing Operations | Operating Segments | Corporate
Segment Reporting Information [Line Items]
Total assets	365,145	266,501	272,058
Depreciation and amortization expense, total	1,330	1,175	1,054
Capital acquisitions	$ 2,120	$ 2,495	$ 3,271

Schedule of Major Classificatio

Schedule of Major Classifications of Inventories (Detail) - USD ($) $ in Thousands	Jul. 31, 2017	Jul. 31, 2016
Inventory [Line Items]
Work in process	$ 117,319	$ 97,872
Raw materials	214,518	173,362
Chassis	109,555	102,686
Subtotal	494,158	434,004
Excess of FIFO costs over LIFO costs	(33,670)	(30,135)
Total inventories	460,488	403,869
Recreational vehicles
Inventory [Line Items]
Finished products	24,904	39,943
Other
Inventory [Line Items]
Finished products	$ 27,862	$ 20,141

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($) $ in Thousands	Jul. 31, 2017	Jul. 31, 2016
Inventory Disclosure [Abstract]
Inventories	$ 494,158	$ 434,004
Subsidiaries valued inventory in last-in, first-out method	284,897	219,050
Subsidiaries valued inventory in first-in, first-out method	209,261	214,954
Inventory obsolescence reserve	$ 5,240	$ 4,840

Property, Plant and Equipment50

Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Jul. 31, 2017	Jul. 31, 2016
Property, Plant and Equipment [Line Items]
Total cost	$ 590,675	$ 480,436
Less accumulated depreciation	(165,437)	(136,169)
Net property, plant and equipment	425,238	344,267
Land
Property, Plant and Equipment [Line Items]
Total cost	48,812	46,422
Building and Building Improvements
Property, Plant and Equipment [Line Items]
Total cost	380,139	300,902
Machinery and Equipment
Property, Plant and Equipment [Line Items]
Total cost	$ 161,724	$ 133,112

Property, Plant and Equipment -

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Oct. 31, 2016	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Property, Plant and Equipment [Line Items]
Property, plant and equipment		$ 590,675	$ 480,436
Accumulated depreciation		165,437	136,169
Net cash proceeds from land and buildings and improvements	$ 4,254	4,682	347	$ 381
Gain on the sale of land and buildings and improvements	$ 2,165	2,231	35	$ 91
Assets Held under Capital Leases
Property, Plant and Equipment [Line Items]
Property, plant and equipment		6,527	6,527
Accumulated depreciation		$ 1,224	$ 680

Components of Amortizable Intan

Components of Amortizable Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Cost	$ 572,327	$ 588,327
Accumulated Amortization	$ 128,861	80,936
Dealer Network/Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life	16 years
Cost	$ 404,960	404,960
Accumulated Amortization	$ 101,795	55,191
Trademarks
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life	18 years
Cost	$ 147,617	148,117
Accumulated Amortization	$ 17,570	10,539
Design Technology and Other Intangibles
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life	8 years
Cost	$ 19,300	22,400
Accumulated Amortization	$ 9,203	10,870
Non-Compete Agreements
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life	2 years
Cost	$ 450	450
Accumulated Amortization	$ 293	203
Backlog
Finite-Lived Intangible Assets [Line Items]
Cost		12,400
Accumulated Amortization		$ 4,133

Estimated Amortization Expense

Estimated Amortization Expense (Detail) $ in Thousands	Jul. 31, 2017USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Estimated annual amortization expense, For the fiscal year ending July 31, 2018	$ 53,968
Estimated annual amortization expense, For the fiscal year ending July 31, 2019	50,136
Estimated annual amortization expense, For the fiscal year ending July 31, 2020	46,269
Estimated annual amortization expense, For the fiscal year ending July 31, 2021	42,935
Estimated annual amortization expense, For the fiscal year ending July 31, 2022	37,828
Estimated annual amortization expense, For the fiscal year ending July 31, 2023 and thereafter	212,330
Estimated annual amortization expense, Total	$ 443,466

Intangible Assets, Goodwill a54

Intangible Assets, Goodwill and Long-Lived Assets - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended
	May 31, 2017	Jan. 31, 2016	Apr. 30, 2017	Jul. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Pre-tax, non-cash goodwill impairment charge	$ 0	$ 9,113	$ 0	$ 9,113

Changes in Carrying Amount of G

Changes in Carrying Amount of Goodwill by Reportable Segment (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended
	May 31, 2017	Jan. 31, 2016	Apr. 30, 2017	Jul. 31, 2017	Jul. 31, 2016
Goodwill [Line Items]
Goodwill, Beginning Balance			$ 377,693	$ 377,693	$ 312,622
No activity				0
Goodwill acquired					74,184
Impairment charges	$ 0	$ (9,113)	0		(9,113)
Goodwill, Ending Balance				377,693	377,693
Towables
Goodwill [Line Items]
Goodwill, Beginning Balance			334,822	334,822	269,751
No activity				0
Goodwill acquired					74,184
Impairment charges					(9,113)
Goodwill, Ending Balance				334,822	334,822
Motorized
Goodwill [Line Items]
No activity				0
Other
Goodwill [Line Items]
Goodwill, Beginning Balance			$ 42,871	42,871	42,871
No activity				0
Goodwill, Ending Balance				$ 42,871	$ 42,871

Summary of Components of Net Ba

Summary of Components of Net Balance (Detail) - USD ($) $ in Thousands	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Goodwill [Line Items]
Goodwill, gross	$ 404,058
Accumulated impairment charges	(26,365)
Goodwill	377,693	$ 377,693	$ 312,622
Towables
Goodwill [Line Items]
Goodwill, gross	343,935
Accumulated impairment charges	(9,113)
Goodwill	334,822	334,822	269,751
Motorized
Goodwill [Line Items]
Goodwill, gross	17,252
Accumulated impairment charges	(17,252)
Other
Goodwill [Line Items]
Goodwill, gross	42,871
Goodwill	$ 42,871	$ 42,871	$ 42,871

Concentration of Risk - Additio

Concentration of Risk - Additional Information (Detail) - Freedom Roads, LLC	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Net Sales
Concentration Risk [Line Items]
Concentration risk percentage	20.00%	20.00%	17.00%
Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage	30.00%	18.00%

Schedule of Fair Value, Assets

Schedule of Fair Value, Assets Measured on Recurring Basis (Detail) - USD ($) $ in Thousands	Jul. 31, 2017	Jul. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	$ 28,095	$ 15,529
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	176,663	143,282
Deferred compensation plan assets	$ 28,095	$ 15,529

Product Warranty - Additional I

Product Warranty - Additional Information (Detail)	12 Months Ended
	Jul. 31, 2017
Product Warranty One
Product Warranty Liability [Line Items]
Warranty period for retail customers, years	1 year
Product Warranty Two
Product Warranty Liability [Line Items]
Warranty period for retail customers, years	2 years

Schedule of Changes in Product

Schedule of Changes in Product Warranty Liabilities for Continuing Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Product Warranty
Beginning balance	$ 201,840	$ 108,206	$ 94,938
Provision	195,799	114,119	114,429
Payments	(180,858)	(110,092)	(106,266)
Acquisitions		89,607	5,105
Ending balance	$ 216,781	$ 201,840	$ 108,206

Long - Term Debt - Additional I

Long - Term Debt - Additional Information (Detail) - USD ($)	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Line of Credit Facility [Line Items]
Line of credit, outstanding amount	$ 145,000,000	$ 360,000,000
Interest expense	9,730,000	1,592,000	$ 180,000
Fees to secure the facility, amortized amount	$ 1,570,000	131,000
Asset-based revolving credit facility
Line of Credit Facility [Line Items]
Line of credit, maturity period	5 years
Line of credit, commencement date	Jun. 30, 2016
Line of credit, maturity date	Jun. 30, 2021
Line of credit, current borrowing capacity	$ 500,000,000
Line of credit, entitled expansion option	100,000,000
Line of credit, outstanding amount	$ 145,000,000	$ 360,000,000
Line of credit, borrowing availability term	Borrowing availability under the credit agreement is limited to the lesser of the facility total and the monthly calculated borrowing base
Line of credit, covenant term	The credit agreement has no financial covenant restrictions for borrowings as long as the Company has adjusted excess availability under the facility that exceeds 10% of the lesser of the line commitment or the borrowing base total, with a floor of $40,000.
Line of credit, borrowing availability	$ 352,675,000
Weighted-average interest rate on borrowings	2.34%	2.55%
Fees to secure the facility, amount incurred		$ 7,850,000
Fees to secure the facility, unamortized amount	$ 6,149,000	7,719,000
Asset-based revolving credit facility | Interest expense
Line of Credit Facility [Line Items]
Fees to secure the facility, amortized amount	$ 1,570,000	131,000
Asset-based revolving credit facility | Minimum
Line of Credit Facility [Line Items]
Line of credit, percentage of line commitment to be exceeded by the excess borrowing availability	10.00%
Line of credit, borrowing base	$ 40,000,000
Asset-based revolving credit facility | Maximum
Line of Credit Facility [Line Items]
Fees to secure the facility, amortization period	5 years
Asset-based revolving credit facility | LIBOR rate
Line of Credit Facility [Line Items]
Line of credit, outstanding amount	$ 145,000,000
Line of credit, pricing spreads rate	1.50%
Line of credit, effective interest rate	2.72%
Asset-based revolving credit facility | LIBOR rate | Minimum
Line of Credit Facility [Line Items]
Line of credit, pricing spreads rate	1.25%
Asset-based revolving credit facility | LIBOR rate | Maximum
Line of Credit Facility [Line Items]
Line of credit, pricing spreads rate	1.75%
Asset-based revolving credit facility | Base rate | Minimum
Line of Credit Facility [Line Items]
Line of credit, pricing spreads rate	0.25%
Asset-based revolving credit facility | Base rate | Maximum
Line of Credit Facility [Line Items]
Line of credit, pricing spreads rate	0.75%
Asset-based revolving credit facility | LIBOR and base rate
Line of Credit Facility [Line Items]
Interest expense	$ 7,002,000	$ 789,000

Schedule of Components of Provi

Schedule of Components of Provision (Benefit) for Income Taxes from Continuing Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Income Tax Disclosure [Abstract]
Federal	$ 200,370	$ 126,846	$ 98,504
State and local	20,941	12,716	1,222
Total current expense	221,311	139,562	99,726
Federal	(37,033)	(13,079)	(7,785)
State and local	(2,146)	(1,192)	(1,055)
Total deferred (benefit)	(39,179)	(14,271)	(8,840)
Total income tax expense	$ 182,132	$ 125,291	$ 90,886

Schedule of Differences between

Schedule of Differences between Income Taxes at Federal Statutory Rate and Actual Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Income Tax Disclosure [Abstract]
Provision at federal statutory rate	$ 194,735	$ 134,160	$ 102,513
State and local income taxes, net of federal benefit	11,021	6,599	5,144
Federal income tax credits and incentives	(3,228)	(4,194)	(2,207)
Domestic production activities deduction	(19,527)	(12,609)	(9,519)
Change in uncertain tax positions	375	611	(5,650)
Other	(1,244)	724	605
Total income tax expense	$ 182,132	$ 125,291	$ 90,886

Schedule of Deferred Income Tax

Schedule of Deferred Income Taxes (Detail) - Noncurrent Deferred Income Tax Assets (Liabilities) - USD ($) $ in Thousands	Jul. 31, 2017	Jul. 31, 2016
Schedule of Deferred Income Tax Assets and Liabilities [Line Items]
Inventory basis	$ 1,460	$ 1,196
Employee benefits	6,471	4,587
Self-Insurance Reserves	9,940	10,504
Accrued product warranties	73,393	43,388
Accrued incentives	6,175	5,154
Sales returns and allowances	2,340	1,642
Accrued expenses	3,399	2,607
Property, plant and equipment	(8,151)	(4,164)
Deferred compensation	14,556	9,145
Intangibles	(17,184)	(22,308)
Unrecognized tax benefits	3,925	4,105
Other	(3,355)	(2,439)
Deferred income tax asset, net	$ 92,969	$ 53,417

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Income Tax [Line Items]
Unrecognized tax benefits that, if recognized, would affect the company's income tax rate	$ 8,477	$ 8,886	$ 8,764
Accrued interest and penalties	1,209	1,547
Total amount of interest and penalties benefit recognized	218	$ 231	$ 2,552
Expected decrease in unrecognized tax benefits due to resolution of uncertain tax positions	3,950
Expected decrease in interest due to resolution of uncertain tax positions	500
State and Local Jurisdiction
Income Tax [Line Items]
Tax credit carry forward	1,882
Gross state tax Net Operating Loss carry forwards	8,973
Deferred tax asset, Net Operating Loss carry forwards	$ 422
State and Local Jurisdiction | Earliest Tax Year
Income Tax [Line Items]
Tax credit carry forward expiration year	2,026
Gross state tax Net Operating Loss carry forwards, expiration year	2,018
State and Local Jurisdiction | Latest Tax Year
Income Tax [Line Items]
Tax credit carry forward expiration year	2,027
Gross state tax Net Operating Loss carry forwards, expiration year	2,037

Schedule of Changes in Unrecogn

Schedule of Changes in Unrecognized Tax Benefit (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Income Tax Disclosure [Abstract]
Beginning balance	$ 13,269	$ 13,156	$ 20,813
Tax positions related to prior years: Additions	75	1,546	126
Tax positions related to prior years: Reductions	(1,510)	(920)	(7,695)
Tax positions related to current year: Additions	3,853	3,123	2,858
Settlements	(1,450)	(956)	(1,898)
Lapses in statute of limitations	(1,566)	(2,680)	(1,048)
Ending balance	$ 12,671	$ 13,269	$ 13,156

Components of Total Unrecognize

Components of Total Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015	Jul. 31, 2014
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 12,671	$ 13,269	$ 13,156	$ 20,813
Reduction to unrecognized tax benefits for tax credit carry forward	(1,882)	(2,255)
Accrued interest and penalties	1,209	1,547
Total unrecognized tax benefits	11,998	12,561
Short-term, included in "Income and other taxes"	1,735	2,586
Long-term	10,263	9,975
Total unrecognized tax benefits	$ 11,998	$ 12,561

Contingent Liabilities and Co68

Contingent Liabilities and Commitments - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Standby Repurchase Obligations Amount	$ 2,200,544	$ 1,898,307
Term of Commitments	Up to eighteen months
Repurchase and guarantee reserve balances	$ 6,345	$ 6,068

Losses Due to Repurchases Relat

Losses Due to Repurchases Related to Repurchase Agreements (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Cost of units repurchased	$ 4,453	$ 4,650	$ 7,171
Realization of units resold	4,151	3,832	5,906
Losses due to repurchase	$ 302	$ 818	$ 1,265

Future Minimum Rental Payments

Future Minimum Rental Payments under Capital and Operating Leases (Detail) $ in Thousands	Jul. 31, 2017USD ($)
Income Tax Disclosure [Abstract]
For the fiscal year ending July 31, 2018	$ 948
For the fiscal year ending July 31, 2019	938
For the fiscal year ending July 31, 2020	933
For the fiscal year ending July 31, 2021	951
For the fiscal year ending July 31, 2022	973
For the fiscal year ending July 31, 2023 and thereafter	5,015
Total minimum lease payments	9,758
Less amount representing interest	(3,285)
Present value of net minimum capital lease payments	6,473
Present value of net minimum capital lease payments	6,473
Less current portion	(378)
Long-term capital lease obligations	6,095
For the fiscal year ending July 31, 2018	2,547
For the fiscal year ending July 31, 2019	2,152
For the fiscal year ending July 31, 2020	1,434
For the fiscal year ending July 31, 2021	1,123
For the fiscal year ending July 31, 2022	907
For the fiscal year ending July 31, 2023 and thereafter	7,493
Total minimum lease payments	$ 15,656

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Leases [Abstract]
Rent expense	$ 3,560	$ 3,757	$ 2,092

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Postemployment Benefits [Abstract]
Employer match and administrative fees for 401(k) plan	$ 1,797	$ 917	$ 565
Investments under employees deferred compensation plan	$ 28,095	$ 15,529

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	May 15, 2015	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Stock Based Compensation And Stockholders Equity [Line Items]
Common stock purchased, shares	1,000,000
Common stock price per share	$ 60
Aggregate purchase price of common stock	$ 60,000			$ 60,000
Closing price of common stock	$ 61.29
Percentage of issued and outstanding common stock prior to repurchase	1.90%
Total unrecognized compensation costs		$ 16,679
Period for recognition of compensation cost not yet recognized		2 years 3 months 11 days
Stock-based compensation		$ 12,500	$ 9,387	6,776
Tax benefits from stock compensation expense		4,625	3,473	2,507
Restricted Stock Units (RSUs)
Stock Based Compensation And Stockholders Equity [Line Items]
Total compensation expenses		$ 12,399	9,272	6,661
2010 Equity Incentive Plan
Stock Based Compensation And Stockholders Equity [Line Items]
Number of shares authorized under stock option plan		2,000,000
Number of shares available to be granted		1,211,385
2016 Equity Incentive Plan
Stock Based Compensation And Stockholders Equity [Line Items]
Number of shares authorized under stock option plan		2,000,000
Number of shares available to be granted		1,834,021
Restricted Stock Awards
Stock Based Compensation And Stockholders Equity [Line Items]
Total compensation expenses		$ 101	$ 115	$ 115
Total unrecognized compensation costs		$ 0
Share-based compensation arrangement by share-based payment award, award vesting period		5 years

Schedule of Restricted Stock Aw

Schedule of Restricted Stock Award Activity (Detail) - $ / shares	12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2015
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, beginning of year, Shares	5,806	9,713	13,620
Vested, Shares	(3,907)	(3,907)	(3,907)
Nonvested, end of year, Shares	1,899	5,806	9,713
Nonvested, beginning of year, Weighted Average Grant Date Fair Value	$ 31.36	$ 31.16	$ 31.08
Vested, Weighted Average Grant Date Fair Value	30.87	30.87	30.87
Nonvested, end of year, Weighted Average Grant Date Fair Value	$ 32.36	$ 31.36	$ 31.16
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, beginning of year, Shares	325,136	280,353	212,073
Granted, Shares	166,567	181,872	162,967
Vested, Shares	(157,315)	(133,758)	(90,608)
Forfeited, Shares	(1,812)	(3,331)	(4,079)
Nonvested, end of year, Shares	332,576	325,136	280,353
Nonvested, beginning of year, Weighted Average Grant Date Fair Value	$ 53.95	$ 50.55	$ 49.21
Granted, Weighted Average Grant Date Fair Value	84.85	55.37	50.95
Vested, Weighted Average Grant Date Fair Value	53.87	48.73	48.14
Forfeited, Weighted Average Grant Date Fair Value	64.03	54.18	50.54
Nonvested, end of year, Weighted Average Grant Date Fair Value	$ 69.41	$ 53.95	$ 50.55