Thor Industries (THO) 10-Q 6 Jun 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Apr. 30, 2018	May 31, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Apr. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Trading Symbol	THO
Entity Registrant Name	THOR INDUSTRIES INC
Entity Central Index Key	730,263
Current Fiscal Year End Date	--07-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		52,695,365

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 30, 2018	Jul. 31, 2017
Current assets:
Cash and cash equivalents	$ 147,019	$ 223,258
Accounts receivable, trade, net	632,484	453,754
Accounts receivable, other, net	25,748	31,090
Inventories, net	607,185	460,488
Prepaid income taxes, expenses and other	14,925	11,577
Total current assets	1,427,361	1,180,167
Property, plant and equipment, net	490,614	425,238
Other assets:
Goodwill	377,693	377,693
Amortizable intangible assets, net	402,230	443,466
Deferred income taxes, net	74,939	92,969
Equity investment in joint venture	46,503
Other	47,142	38,398
Total other assets	948,507	952,526
TOTAL ASSETS	2,866,482	2,557,931
Current liabilities:
Accounts payable	354,012	328,601
Accrued liabilities:
Compensation and related items	111,634	100,114
Product warranties	260,129	216,781
Income and other taxes	19,748	51,211
Promotions and rebates	61,165	46,459
Product, property and related liabilities	16,935	16,521
Other	31,942	21,359
Total current liabilities	855,565	781,046
Long-term debt	80,000	145,000
Unrecognized tax benefits	10,718	10,263
Other liabilities	54,573	45,082
Total long-term liabilities	145,291	200,345
Contingent liabilities and commitments
Stockholders' equity:
Preferred stock - authorized 1,000,000 shares; none outstanding
Common stock - par value of $.10 per share; authorized 250,000,000 shares; issued 62,765,824 and 62,597,110 shares, respectively	6,277	6,260
Additional paid-in capital	248,797	235,525
Retained earnings	1,954,280	1,670,826
Less treasury shares of 10,070,459 and 10,011,069, respectively, at cost	(343,728)	(336,071)
Total stockholders' equity	1,865,626	1,576,540
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 2,866,482	$ 2,557,931

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Apr. 30, 2018	Jul. 31, 2017
Statement of Financial Position [Abstract]
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	62,765,824	62,597,110
Treasury, shares	10,070,459	10,011,069

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2018	Apr. 30, 2017
Income Statement [Abstract]
Net sales	$ 2,251,570	$ 2,015,224	$ 6,454,798	$ 5,312,280
Cost of products sold	1,934,825	1,721,383	5,534,540	4,569,985
Gross profit	316,745	293,841	920,258	742,295
Selling, general and administrative expenses	119,449	111,122	370,800	310,401
Amortization of intangible assets	13,882	15,216	41,236	48,710
Interest income	460	205	1,242	535
Interest expense	1,383	2,547	4,149	7,593
Other income (expense), net	(1,966)	1,070	3,366	4,270
Income before income taxes	180,525	166,231	508,681	380,396
Income taxes	46,737	54,968	166,735	125,606
Net income and comprehensive income	$ 133,788	$ 111,263	$ 341,946	$ 254,790
Weighted-average common shares outstanding:
Basic	52,695,365	52,582,134	52,667,016	52,555,792
Diluted	52,853,541	52,773,106	52,844,040	52,739,716
Earnings per common share:
Basic	$ 2.54	$ 2.12	$ 6.49	$ 4.85
Diluted	2.53	2.11	6.47	4.83
Regular dividends declared and paid per common share	$ 0.37	$ 0.33	$ 1.11	$ 0.99

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Cash flows from operating activities:
Net income	$ 341,946	$ 254,790
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	28,270	25,588
Amortization of intangibles	41,236	48,710
Amortization of debt issuance costs	1,177	1,177
Deferred income tax provision (benefit)	18,030	(9,261)
Gain on disposition of property, plant and equipment	(1,465)	(2,246)
Stock-based compensation expense	12,986	9,058
Changes in assets and liabilities (excluding acquisitions):
Accounts receivable	(173,388)	(223,186)
Inventories	(146,697)	(55,799)
Prepaid income taxes, expenses and other	(14,141)	(4,612)
Accounts payable	29,595	85,651
Accrued liabilities	49,383	46,604
Long-term liabilities and other	10,253	6,360
Net cash provided by operating activities	197,185	182,834
Cash flows from investing activities:
Purchases of property, plant and equipment	(100,021)	(79,456)
Proceeds from dispositions of property, plant and equipment	3,656	4,630
Acquisitions		(5,039)
Equity investment in joint venture	(46,902)
Other	1,271	(1,581)
Net cash used in investing activities	(141,996)	(81,446)
Cash flows from financing activities:
Principal payments on revolving credit facility	(65,000)	(65,000)
Regular cash dividends paid	(58,492)	(52,057)
Principal payments on capital lease obligations	(279)	(250)
Payments related to vesting of stock-based awards	(7,657)	(4,572)
Net cash used in financing activities	(131,428)	(121,879)
Net decrease in cash and cash equivalents	(76,239)	(20,491)
Cash and cash equivalents, beginning of period	223,258	209,902
Cash and cash equivalents, end of period	147,019	189,411
Supplemental cash flow information:
Income taxes paid	186,166	130,802
Interest paid	3,087	6,652
Non-cash transactions:
Capital expenditures in accounts payable	$ 2,082	$ 2,605

Nature of Operations and Accoun

Nature of Operations and Accounting Policies	9 Months Ended
	Apr. 30, 2018
Accounting Policies [Abstract]
Nature of Operations and Accounting Policies	1. Nature of Operations and Accounting Policies Nature of Operations Thor Industries, Inc. was founded in 1980 and, through its subsidiaries (collectively, the “Company”), manufactures a wide range of recreational vehicles (“RVs”) at various manufacturing facilities located primarily in Indiana, with additional facilities in Ohio, Oregon, Idaho and Michigan. These products are sold to independent, non-franchise The July 31, 2017 amounts are derived from the annual audited financial statements. The interim financial statements are unaudited. In the opinion of management, all adjustments (which consist of normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented have been made. These financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K Accounting Pronouncements In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-04, In February 2016, the FASB issued ASU No. 2016-02, No. 2016-02 In July 2015, the FASB issued ASU No. 2015-11, No. 2015-11 last-in, first-out No. 2015-11 No. 2015-11 In May 2014, the FASB issued ASU No. 2014-09, No. 2014-09 The Company is in the process of analyzing and quantifying the adoption impact of this ASU as well as evaluating the impact to internal controls, business processes and financial statement disclosures under this ASU. While the Company is still completing its assessment of all the potential impacts of this ASU, the Company does not anticipate adoption will have a material impact to the consolidated financial statements. The ASU will, however, require more extensive revenue-related disclosures. The Company will continue evaluation of the adoption of this ASU through the date of adoption, including assessing the impact of required financial statement disclosures.

Acquisition

Acquisition	9 Months Ended
	Apr. 30, 2018
Business Combinations [Abstract]
Acquisition	2. Acquisition Jayco, Corp. 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 12 to the Condensed Consolidated Financial Statements. The final purchase price adjustment of $5,039 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 were 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 was amortized on a straight-line basis over 3 months. Goodwill is deductible for tax purposes.

Business Segments

Business Segments	9 Months Ended
	Apr. 30, 2018
Segment Reporting [Abstract]
Business Segments	3. Business Segments The Company has two reportable segments, both related to recreational vehicles: (1) towables and (2) motorized. The towable recreational vehicle reportable segment consists of the following operating segments that have been aggregated: Airstream (towable), Heartland (including Bison, Cruiser RV 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 are included in “Other,” which is a non-reportable arm’s-length All manufacturing is conducted within the United States. Total assets include those assets used in the operation of each reportable and non-reportable Three Months Ended April 30, Nine Months Ended April 30, Net sales: 2018 2017 2018 2017 Recreational vehicles Towables $ 1,608,214 $ 1,426,192 $ 4,599,833 $ 3,719,314 Motorized 598,459 549,883 1,724,979 1,486,309 Total recreational vehicles 2,206,673 1,976,075 6,324,812 5,205,623 Other 82,239 70,019 233,171 182,906 Intercompany eliminations (37,342 ) (30,870 ) (103,185 ) (76,249 ) Total $ 2,251,570 $ 2,015,224 $ 6,454,798 $ 5,312,280 Three Months Ended April 30, Nine Months Ended April 30, Income (loss) before income taxes: 2018 2017 2018 2017 Recreational vehicles Towables $ 147,853 $ 134,504 $ 423,432 $ 306,677 Motorized 38,908 37,356 114,032 94,767 Total recreational vehicles 186,761 171,860 537,464 401,444 Other, net 8,872 8,713 22,645 20,787 Corporate (15,108 ) (14,342 ) (51,428 ) (41,835 ) Total $ 180,525 $ 166,231 $ 508,681 $ 380,396 Total assets: April 30, 2018 July 31, 2017 Recreational vehicles Towables $ 1,754,486 $ 1,535,029 Motorized 618,190 500,761 Total recreational vehicles 2,372,676 2,035,790 Other, net 158,914 156,996 Corporate 334,892 365,145 Total $ 2,866,482 $ 2,557,931 Three Months Ended April 30, Nine Months Ended April 30, Depreciation and intangible amortization expense: 2018 2017 2018 2017 Recreational vehicles Towables $ 17,357 $ 18,213 $ 51,373 $ 57,377 Motorized 3,004 2,316 8,641 6,905 Total recreational vehicles 20,361 20,529 60,014 64,282 Other 2,762 3,021 8,319 9,037 Corporate 410 343 1,173 979 Total $ 23,533 $ 23,893 $ 69,506 $ 74,298 Three Months Ended April 30, Nine Months Ended April 30, Capital acquisitions: 2018 2017 2018 2017 Recreational vehicles Towables $ 23,175 $ 15,559 $ 59,588 $ 51,877 Motorized 10,083 12,134 24,152 24,179 Total recreational vehicles 33,258 27,693 83,740 76,056 Other 744 163 3,337 773 Corporate 169 377 8,760 1,694 Total $ 34,171 $ 28,233 $ 95,837 $ 78,523

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Apr. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Common Share	4. Earnings Per Common Share The following table reflects the weighted-average common shares used to compute basic and diluted earnings per common share as included on the Condensed Consolidated Statements of Income and Comprehensive Income: Three Months Ended April 30, Nine Months Ended April 30, 2018 2017 2018 2017 Weighted-average shares outstanding for basic earnings per share 52,695,365 52,582,134 52,667,016 52,555,792 Unvested restricted stock and restricted stock units 158,176 190,972 177,024 183,924 Weighted-average shares outstanding assuming dilution 52,853,541 52,773,106 52,844,040 52,739,716 At April 30, 2017, the Company had 57,253 unvested restricted stock and restricted stock units outstanding which were excluded from this calculation as their effect would be antidilutive. There were no unvested restricted stock or restricted stock units that were antidilutive at April 30, 2018.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Apr. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. 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”, and as discussed in Note 9 in the Notes to the Consolidated Financial Statements in our fiscal 2017 Form 10-K. The financial assets that were accounted for at fair value on a recurring basis at April 30, 2018 and July 31, 2017, all using Level 1 inputs, are as follows: April 30, 2018 July 31, 2017 Cash equivalents $ 89,914 $ 176,663 Deferred compensation plan assets $ 38,423 $ 28,095 Cash equivalents represent investments in government and other money market funds traded in an active market, and are reported as a component of Cash and cash equivalents in the Condensed Consolidated Balance Sheets. Deferred compensation plan assets 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 a component of Other long-term assets in the Condensed 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 Condensed 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 Condensed Consolidated Statements of Income and Comprehensive Income.

Inventories

Inventories	9 Months Ended
	Apr. 30, 2018
Inventory Disclosure [Abstract]
Inventories	6. Inventories Major classifications of inventories are as follows: April 30, 2018 July 31, 2017 Finished goods – RV $ 79,234 $ 24,904 Finished goods – other 32,701 27,862 Work in process 143,801 117,319 Raw materials 263,613 214,518 Chassis 127,706 109,555 Subtotal 647,055 494,158 Excess of FIFO costs over LIFO costs (39,870 ) (33,670 ) Total inventories, net $ 607,185 $ 460,488 Of the $647,055 and $494,158 of inventories at April 30, 2018 and July 31, 2017, $354,545 and $284,897, respectively, was valued on the last-in, first-out first-in, first-out

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Apr. 30, 2018
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	7. Property, Plant and Equipment Property, plant and equipment is stated at cost, net of accumulated depreciation, and consists of the following: April 30, 2018 July 31, 2017 Land $ 55,749 $ 48,812 Buildings and improvements 440,206 380,139 Machinery and equipment 187,112 161,724 Total cost 683,067 590,675 Less accumulated depreciation (192,453 ) (165,437 ) Property, plant and equipment, net $ 490,614 $ 425,238 Property, plant and equipment at both April 30, 2018 and July 31, 2017 includes buildings and improvements under capital leases of $6,527 and related amortization included in accumulated depreciation of $1,632 and $1,224 at April 30, 2018 and July 31, 2017, respectively.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	9 Months Ended
	Apr. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	8. Intangible Assets and Goodwill The components of amortizable intangible assets are as follows: Weighted-Average Remaining April 30, 2018 July 31, 2017 Life in Years at Cost Accumulated Cost Accumulated April 30, 2018 Amortization Amortization Dealer networks/customer relationships 16 $ 404,960 $ 135,798 $ 404,960 $ 101,795 Trademarks 18 147,617 23,649 147,617 17,570 Design technology and other intangibles 7 19,300 10,290 19,300 9,203 Non-compete 1 450 360 450 293 Total amortizable intangible assets $ 572,327 $ 170,097 $ 572,327 $ 128,861 Estimated annual amortization expense is as follows: For the fiscal year ending July 31, 2018 $ 55,118 For the fiscal year ending July 31, 2019 50,043 For the fiscal year ending July 31, 2020 46,194 For the fiscal year ending July 31, 2021 42,860 For the fiscal year ending July 31, 2022 37,753 For the fiscal year ending July 31, 2023 and thereafter 211,498 $ 443,466 Of the recorded goodwill of $377,693 at both April 30, 2018 and July 31, 2017, $334,822 relates to the towable recreational vehicle reportable segment and $42,871 relates to the other non-reportable

Equity Investment

Equity Investment	9 Months Ended
	Apr. 30, 2018
Equity Method Investments and Joint Ventures [Abstract]
Equity Investment	9. Equity Investment On February 15, 2018, the Company announced the formation of a joint venture with Tourism Holdings Limited (“ thl thl thl thl The Company’s investment in TH2 is accounted for under the equity method of accounting. The Company’s share of the losses of this investment, which are included in its operating results for the three and nine months ended April 30, 2018, was $399 for both periods and is included in Other income (expense), net in the Condensed Consolidated Statements of Income and Comprehensive Income. The results of this joint venture are recorded on a one-month TH2 was formed to own, improve and sell innovative and comprehensive digital applications through a platform designed for the global RV industry. TH2 will offer a variety of products focused on enhancing the enjoyment, safety, connectivity and convenience of RV ownership and use.

Concentration of Risk

Concentration of Risk	9 Months Ended
	Apr. 30, 2018
Risks and Uncertainties [Abstract]
Concentration of Risk	10. Concentration of Risk One dealer, FreedomRoads, LLC, accounted for 20% and 18% of the Company’s consolidated net sales for the nine-month periods ended April 30, 2018 and April 30, 2017, respectively. Sales to this dealer are reported within both the towables and motorized segments. This dealer also accounted for 18% of the Company’s consolidated trade accounts receivable at April 30, 2018 and 30% at July 31, 2017. The loss of this dealer could have a significant effect on the Company’s business.

Product Warranties

Product Warranties	9 Months Ended
	Apr. 30, 2018
Guarantees and Product Warranties [Abstract]
Product Warranties	11. Product Warranties The Company generally provides retail customers of its products with a one-year two-year Changes in our product warranty liabilities are as follows: Three Months Ended April 30, Nine Months Ended April 30, 2018 2017 2018 2017 Beginning balance $ 243,310 $ 209,173 $ 216,781 $ 201,840 Provision 71,037 50,358 198,079 146,454 Payments (54,218 ) (44,613 ) (154,731 ) (133,376 ) Ending balance $ 260,129 $ 214,918 $ 260,129 $ 214,918

Long-Term Debt

Long-Term Debt	9 Months Ended
	Apr. 30, 2018
Debt Disclosure [Abstract]
Long-Term Debt	12. 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. See Note 11 in the Notes to the Consolidated Financial Statements in our fiscal 2017 Form 10-K For the three-month periods ended April 30, 2018 and April 30, 2017, the total interest expense on the facility was $584 and $1,879, respectively, and the weighted-average interest rate on borrowings from the facility was 2.92% and 2.38%, respectively. For the nine-month periods ended April 30, 2018 and April 30, 2017, the total interest expense on the facility was $1,742 and $5,583, respectively, and the weighted-average interest rate on borrowings from the facility was 2.72% and 2.25%, respectively. 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 classified as interest expense, of $392 for both of the three-month periods ended April 30, 2018 and April 30, 2017, and $1,177 for both of the nine-month periods ended April 30, 2018 and April 30, 2017. The unamortized balances of these facility fees were $4,972 at April 30, 2018 and $6,149 at July 31, 2017, and are included in Other long-term assets in the Condensed Consolidated Balance Sheets. The carrying value of the Company’s long-term debt at April 30, 2018 approximates fair value as the entire balance is subject to variable 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.

Provision for Income Taxes

Provision for Income Taxes	9 Months Ended
	Apr. 30, 2018
Income Tax Disclosure [Abstract]
Provision for Income Taxes	13. Provision for Income Taxes The overall effective income tax rate for the three months ended April 30, 2018 was 25.9% compared with 33.1% for the three months ended April 30, 2017. The primary reason for the decrease in the effective income tax rate was the impact of the Tax Cuts and Jobs Act (the “Tax Act”) that was signed into law on December 22, 2017. Under the Tax Act, the federal corporate income tax rate has been reduced from 35.0% to 21.0% starting January 1, 2018, which results in the use of an estimated blended federal corporate income tax rate of 26.9% for the Company’s 2018 fiscal year. The effective income tax rate for the three months ended April 30, 2018 was also favorably impacted by an overall reduction in the Company’s blended state income tax rate. The overall effective income tax rate for the nine months ended April 30, 2018 was 32.8% compared with 33.0% for the nine months ended April 30, 2017. Income tax expense for the nine months ended April 30, 2018 included approximately $34,000 of additional income tax expense resulting from the revaluation of the Company’s net deferred tax assets to reflect the impact of the lower tax rates in connection with the Tax Act. This charge, with respect to the reduced federal income tax rate and the potential impact of limitations on the deductibility of executive compensation, among other items, represents a provisional amount in accordance with SEC Staff Accounting Bulletin No. 118 (“SAB 118”) based on currently available information and is subject to further refinement during the measurement period as defined by SAB 118. Income tax expense for the nine-month period ended April 30, 2018 also reflects the use of the estimated blended federal corporate income tax rate of 26.9% as a result of the Tax Act. The Company anticipates a decrease of approximately $2,990 in unrecognized tax benefits, and $330 in accrued interest related to unrecognized tax benefits recorded as of April 30, 2018, within the next 12 months 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 through 2017 remain open for federal income tax purposes and fiscal years 2013 through 2017 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 examination by certain state authorities for the fiscal years ended July 31, 2013 through 2016. 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, Commitm

Contingent Liabilities, Commitments and Legal Matters	9 Months Ended
	Apr. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities, Commitments and Legal Matters	14. Contingent Liabilities, Commitments and Legal Matters The Company’s total commercial commitments under standby repurchase obligations on dealer inventory financing, as discussed in Note 13 in the Notes to the Consolidated Financial Statements in our fiscal 2017 Form 10-K, 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 $8,850 and $6,345 as of April 30, 2018 and July 31, 2017, respectively, which are included in Other current liabilities in the Condensed Consolidated Balance Sheets. Losses incurred related to repurchase agreements during the three-month and nine-month periods ended April 30, 2018 and April 30, 2017 were not significant. Based on current market conditions, the Company believes that any future losses under these agreements will not have a significant effect on the Company’s consolidated financial position, results of operations or cash flows. The Company is also involved in certain litigation arising out of its operations in the normal course of its business, most of which is based upon state “lemon laws”, warranty claims and vehicle accidents (for which the Company carries insurance above a specified self-insured retention or deductible amount). The outcomes of legal proceedings and claims brought against the Company are subject to significant uncertainty. There is significant judgment required in assessing both the probability of an adverse outcome and the determination as to whether an exposure can be reasonably estimated. Based on current conditions, in management’s opinion the ultimate disposition of any current legal proceedings or claims against the Company will not have a material effect on the Company’s financial condition, operating results or cash flows. Litigation is, however, inherently uncertain and an adverse outcome from such litigation could have a material effect on the operating results of a particular reporting period.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Apr. 30, 2018
Equity [Abstract]
Stockholders' Equity	15. Stockholders’ Equity Under the Company’s restricted stock unit (“RSU”) program, as discussed in Note 16 in the Notes to the Consolidated Financial Statements in our fiscal 2017 Form 10-K, Total expense recognized in the three-month periods ended April 30, 2018 and April 30, 2017 for these restricted stock unit awards and other stock-based compensation was $4,255 and $3,166, respectively. Total expense recognized in the nine-month periods ended April 30, 2018 and April 30, 2017 for these restricted stock unit awards and other stock-based compensation was $12,986 and $9,058, respectively. For the restricted stock units that vested during the nine-month periods ended April 30, 2018 and April 30, 2017, portions of the vested shares awarded were withheld as treasury shares to cover the recipients’ estimated withholding taxes. Tax payments made by the Company related to these stock-based awards for the nine months ended April 30, 2018 and April 30, 2017 totaled $7,657 and $4,572, respectively.

Subsequent Event

Subsequent Event	9 Months Ended
	Apr. 30, 2018
Subsequent Events [Abstract]
Subsequent Event	16. Subsequent Event During May 2018, the Company made additional debt payments on its revolving credit facility totaling $60,000, bringing the remaining outstanding balance to $20,000 as of May 31, 2018.

Nature of Operations and Acco22

Nature of Operations and Accounting Policies (Policies)	9 Months Ended
	Apr. 30, 2018
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations Thor Industries, Inc. was founded in 1980 and, through its subsidiaries (collectively, the “Company”), manufactures a wide range of recreational vehicles (“RVs”) at various manufacturing facilities located primarily in Indiana, with additional facilities in Ohio, Oregon, Idaho and Michigan. These products are sold to independent, non-franchise The July 31, 2017 amounts are derived from the annual audited financial statements. The interim financial statements are unaudited. In the opinion of management, all adjustments (which consist of normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented have been made. These financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K
Accounting Pronouncements	Accounting Pronouncements In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-04, In February 2016, the FASB issued ASU No. 2016-02, No. 2016-02 In July 2015, the FASB issued ASU No. 2015-11, No. 2015-11 last-in, first-out No. 2015-11 No. 2015-11 In May 2014, the FASB issued ASU No. 2014-09, No. 2014-09 The Company is in the process of analyzing and quantifying the adoption impact of this ASU as well as evaluating the impact to internal controls, business processes and financial statement disclosures under this ASU. While the Company is still completing its assessment of all the potential impacts of this ASU, the Company does not anticipate adoption will have a material impact to the consolidated financial statements. The ASU will, however, require more extensive revenue-related disclosures. The Company will continue evaluation of the adoption of this ASU through the date of adoption, including assessing the impact of required financial statement disclosures.

Acquisition (Tables)

Acquisition (Tables)	9 Months Ended
	Apr. 30, 2018
Jayco, Corp.
Summary of Final Fair Value Assigned to Net Assets Acquired	The following table summarizes the final fair values assigned to the Jayco net assets acquired, which were 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

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Apr. 30, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information by Segment	Three Months Ended April 30, Nine Months Ended April 30, Net sales: 2018 2017 2018 2017 Recreational vehicles Towables $ 1,608,214 $ 1,426,192 $ 4,599,833 $ 3,719,314 Motorized 598,459 549,883 1,724,979 1,486,309 Total recreational vehicles 2,206,673 1,976,075 6,324,812 5,205,623 Other 82,239 70,019 233,171 182,906 Intercompany eliminations (37,342 ) (30,870 ) (103,185 ) (76,249 ) Total $ 2,251,570 $ 2,015,224 $ 6,454,798 $ 5,312,280 Three Months Ended April 30, Nine Months Ended April 30, Income (loss) before income taxes: 2018 2017 2018 2017 Recreational vehicles Towables $ 147,853 $ 134,504 $ 423,432 $ 306,677 Motorized 38,908 37,356 114,032 94,767 Total recreational vehicles 186,761 171,860 537,464 401,444 Other, net 8,872 8,713 22,645 20,787 Corporate (15,108 ) (14,342 ) (51,428 ) (41,835 ) Total $ 180,525 $ 166,231 $ 508,681 $ 380,396 Total assets: April 30, 2018 July 31, 2017 Recreational vehicles Towables $ 1,754,486 $ 1,535,029 Motorized 618,190 500,761 Total recreational vehicles 2,372,676 2,035,790 Other, net 158,914 156,996 Corporate 334,892 365,145 Total $ 2,866,482 $ 2,557,931 Three Months Ended April 30, Nine Months Ended April 30, Depreciation and intangible amortization expense: 2018 2017 2018 2017 Recreational vehicles Towables $ 17,357 $ 18,213 $ 51,373 $ 57,377 Motorized 3,004 2,316 8,641 6,905 Total recreational vehicles 20,361 20,529 60,014 64,282 Other 2,762 3,021 8,319 9,037 Corporate 410 343 1,173 979 Total $ 23,533 $ 23,893 $ 69,506 $ 74,298 Three Months Ended April 30, Nine Months Ended April 30, Capital acquisitions: 2018 2017 2018 2017 Recreational vehicles Towables $ 23,175 $ 15,559 $ 59,588 $ 51,877 Motorized 10,083 12,134 24,152 24,179 Total recreational vehicles 33,258 27,693 83,740 76,056 Other 744 163 3,337 773 Corporate 169 377 8,760 1,694 Total $ 34,171 $ 28,233 $ 95,837 $ 78,523

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Apr. 30, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Common Share	The following table reflects the weighted-average common shares used to compute basic and diluted earnings per common share as included on the Condensed Consolidated Statements of Income and Comprehensive Income: Three Months Ended April 30, Nine Months Ended April 30, 2018 2017 2018 2017 Weighted-average shares outstanding for basic earnings per share 52,695,365 52,582,134 52,667,016 52,555,792 Unvested restricted stock and restricted stock units 158,176 190,972 177,024 183,924 Weighted-average shares outstanding assuming dilution 52,853,541 52,773,106 52,844,040 52,739,716

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Apr. 30, 2018
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 April 30, 2018 and July 31, 2017, all using Level 1 inputs, are as follows: April 30, 2018 July 31, 2017 Cash equivalents $ 89,914 $ 176,663 Deferred compensation plan assets $ 38,423 $ 28,095

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Apr. 30, 2018
Inventory Disclosure [Abstract]
Schedule of Major Classifications of Inventories	Major classifications of inventories are as follows: April 30, 2018 July 31, 2017 Finished goods – RV $ 79,234 $ 24,904 Finished goods – other 32,701 27,862 Work in process 143,801 117,319 Raw materials 263,613 214,518 Chassis 127,706 109,555 Subtotal 647,055 494,158 Excess of FIFO costs over LIFO costs (39,870 ) (33,670 ) Total inventories, net $ 607,185 $ 460,488

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Apr. 30, 2018
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: April 30, 2018 July 31, 2017 Land $ 55,749 $ 48,812 Buildings and improvements 440,206 380,139 Machinery and equipment 187,112 161,724 Total cost 683,067 590,675 Less accumulated depreciation (192,453 ) (165,437 ) Property, plant and equipment, net $ 490,614 $ 425,238

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	9 Months Ended
	Apr. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Components of Amortizable Intangible Assets	The components of amortizable intangible assets are as follows: Weighted-Average Remaining April 30, 2018 July 31, 2017 Life in Years at Cost Accumulated Cost Accumulated April 30, 2018 Amortization Amortization Dealer networks/customer relationships 16 $ 404,960 $ 135,798 $ 404,960 $ 101,795 Trademarks 18 147,617 23,649 147,617 17,570 Design technology and other intangibles 7 19,300 10,290 19,300 9,203 Non-compete 1 450 360 450 293 Total amortizable intangible assets $ 572,327 $ 170,097 $ 572,327 $ 128,861
Estimated Amortization Expense	Estimated annual amortization expense is as follows: For the fiscal year ending July 31, 2018 $ 55,118 For the fiscal year ending July 31, 2019 50,043 For the fiscal year ending July 31, 2020 46,194 For the fiscal year ending July 31, 2021 42,860 For the fiscal year ending July 31, 2022 37,753 For the fiscal year ending July 31, 2023 and thereafter 211,498 $ 443,466

Product Warranties (Tables)

Product Warranties (Tables)	9 Months Ended
	Apr. 30, 2018
Guarantees and Product Warranties [Abstract]
Schedule of Changes in Product Warranty Liabilities	Changes in our product warranty liabilities are as follows: Three Months Ended April 30, Nine Months Ended April 30, 2018 2017 2018 2017 Beginning balance $ 243,310 $ 209,173 $ 216,781 $ 201,840 Provision 71,037 50,358 198,079 146,454 Payments (54,218 ) (44,613 ) (154,731 ) (133,376 ) Ending balance $ 260,129 $ 214,918 $ 260,129 $ 214,918

Acquisition - Additional Inform

Acquisition - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Oct. 31, 2016	Apr. 30, 2018
Trademarks
Business Acquisition [Line Items]
Intangible assets amortization period			18 years
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
Jayco, Corp. | Consideration Funded By Credit Facility
Business Acquisition [Line Items]
Borrowings on revolving credit facility	$ 360,000
Jayco, Corp. | Dealer Network
Business Acquisition [Line Items]
Intangible assets amortization period	20 years
Amortizable intangible assets, amortization method			Accelerated cash flow basis
Jayco, Corp. | Trademarks
Business Acquisition [Line Items]
Intangible assets amortization period	20 years
Amortizable intangible assets, amortization method			Straight-line basis
Jayco, Corp. | Backlog
Business Acquisition [Line Items]
Intangible assets amortization period	3 months
Amortizable intangible assets, amortization method			Straight-line basis

Summary of Final Fair Value Ass

Summary of Final Fair Value Assigned to Net Assets Acquired (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Apr. 30, 2017	Apr. 30, 2018	Jul. 31, 2017
Business Acquisition [Line Items]
Goodwill			$ 377,693	$ 377,693
Total cash consideration for acquisition, less cash acquired		$ (5,039)
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
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 Network
Business Acquisition [Line Items]
Business acquisition allocated to amortizing intangible asset	$ 261,100

Business Segments - Additional

Business Segments - Additional Information (Detail)	9 Months Ended
	Apr. 30, 2018Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Schedule of Segment Reporting I

Schedule of Segment Reporting Information by Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2018	Apr. 30, 2017
Segment Reporting Information [Line Items]
Net sales	$ 2,251,570	$ 2,015,224	$ 6,454,798	$ 5,312,280
Income (loss) before income taxes	180,525	166,231	508,681	380,396
Operating Segments | Recreational vehicles
Segment Reporting Information [Line Items]
Net sales	2,206,673	1,976,075	6,324,812	5,205,623
Income (loss) before income taxes	186,761	171,860	537,464	401,444
Operating Segments | Recreational vehicles | Towables
Segment Reporting Information [Line Items]
Net sales	1,608,214	1,426,192	4,599,833	3,719,314
Income (loss) before income taxes	147,853	134,504	423,432	306,677
Operating Segments | Recreational vehicles | Motorized
Segment Reporting Information [Line Items]
Net sales	598,459	549,883	1,724,979	1,486,309
Income (loss) before income taxes	38,908	37,356	114,032	94,767
Corporate and Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	82,239	70,019	233,171	182,906
Income (loss) before income taxes	8,872	8,713	22,645	20,787
Intercompany Eliminations
Segment Reporting Information [Line Items]
Net sales	(37,342)	(30,870)	(103,185)	(76,249)
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Income (loss) before income taxes	$ (15,108)	$ (14,342)	$ (51,428)	$ (41,835)

Schedule of Segment Reporting35

Schedule of Segment Reporting Information, by Segment Balance Sheet Item (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2018	Apr. 30, 2017	Jul. 31, 2017
Segment Reporting Information [Line Items]
Total assets	$ 2,866,482		$ 2,866,482		$ 2,557,931
Depreciation and amortization expense, total	23,533	$ 23,893	69,506	$ 74,298
Capital acquisitions	34,171	28,233	95,837	78,523
Operating Segments | Recreational vehicles
Segment Reporting Information [Line Items]
Total assets	2,372,676		2,372,676		2,035,790
Depreciation and amortization expense, total	20,361	20,529	60,014	64,282
Capital acquisitions	33,258	27,693	83,740	76,056
Operating Segments | Recreational vehicles | Towables
Segment Reporting Information [Line Items]
Total assets	1,754,486		1,754,486		1,535,029
Depreciation and amortization expense, total	17,357	18,213	51,373	57,377
Capital acquisitions	23,175	15,559	59,588	51,877
Operating Segments | Recreational vehicles | Motorized
Segment Reporting Information [Line Items]
Total assets	618,190		618,190		500,761
Depreciation and amortization expense, total	3,004	2,316	8,641	6,905
Capital acquisitions	10,083	12,134	24,152	24,179
Corporate and Eliminations [Member]
Segment Reporting Information [Line Items]
Total assets	158,914		158,914		156,996
Depreciation and amortization expense, total	2,762	3,021	8,319	9,037
Capital acquisitions	744	163	3,337	773
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Total assets	334,892		334,892		$ 365,145
Depreciation and amortization expense, total	410	343	1,173	979
Capital acquisitions	$ 169	$ 377	$ 8,760	$ 1,694

Earning Per Common Share (Detai

Earning Per Common Share (Detail) - shares	3 Months Ended		9 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2018	Apr. 30, 2017
Earnings Per Share [Abstract]
Weighted-average shares outstanding for basic earnings per share	52,695,365	52,582,134	52,667,016	52,555,792
Unvested restricted stock and restricted stock units	158,176	190,972	177,024	183,924
Weighted-average shares outstanding assuming dilution	52,853,541	52,773,106	52,844,040	52,739,716

Earnings Per Common Share - Add

Earnings Per Common Share - Additional Information (Detail) - shares	9 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Earnings Per Share [Abstract]
Antidilutive stock options, unvested restricted stock and restricted stock units outstanding	0	57,253

Schedule of Fair Value, Assets

Schedule of Fair Value, Assets Measured on Recurring Basis (Detail) - Level 1 - USD ($) $ in Thousands	Apr. 30, 2018	Jul. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 89,914	$ 176,663
Deferred compensation plan assets	$ 38,423	$ 28,095

Schedule of Major Classificatio

Schedule of Major Classifications of Inventories (Detail) - USD ($) $ in Thousands	Apr. 30, 2018	Jul. 31, 2017
Inventory [Line Items]
Work in process	$ 143,801	$ 117,319
Raw materials	263,613	214,518
Chassis	127,706	109,555
Subtotal	647,055	494,158
Excess of FIFO costs over LIFO costs	(39,870)	(33,670)
Total inventories, net	607,185	460,488
Recreational vehicles
Inventory [Line Items]
Finished goods	79,234	24,904
Other
Inventory [Line Items]
Finished goods	$ 32,701	$ 27,862

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($) $ in Thousands	Apr. 30, 2018	Jul. 31, 2017
Inventory Disclosure [Abstract]
Inventories	$ 647,055	$ 494,158
Subsidiaries valued inventory in last-in, first-out method	354,545	284,897
Subsidiaries valued inventory in first-in, first-out method	$ 292,510	$ 209,261

Property, Plant and Equipment41

Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Apr. 30, 2018	Jul. 31, 2017
Property, Plant and Equipment [Line Items]
Total cost	$ 683,067	$ 590,675
Less accumulated depreciation	(192,453)	(165,437)
Property, plant and equipment, net	490,614	425,238
Land
Property, Plant and Equipment [Line Items]
Total cost	55,749	48,812
Building and Building Improvements
Property, Plant and Equipment [Line Items]
Total cost	440,206	380,139
Machinery and Equipment
Property, Plant and Equipment [Line Items]
Total cost	$ 187,112	$ 161,724

Property, Plant and Equipment -

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	Apr. 30, 2018	Jul. 31, 2017
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 683,067	$ 590,675
Accumulated depreciation	192,453	165,437
Assets Held under Capital Leases
Property, Plant and Equipment [Line Items]
Property, plant and equipment	6,527	6,527
Accumulated depreciation	$ 1,632	$ 1,224

Components of Amortizable Intan

Components of Amortizable Intangible Assets (Detail) - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2018	Jul. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Cost	$ 572,327	$ 572,327
Accumulated Amortization	$ 170,097	128,861
Dealer Network/Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life	16 years
Cost	$ 404,960	404,960
Accumulated Amortization	$ 135,798	101,795
Trademarks
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life	18 years
Cost	$ 147,617	147,617
Accumulated Amortization	$ 23,649	17,570
Design Technology and Other Intangibles
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life	7 years
Cost	$ 19,300	19,300
Accumulated Amortization	$ 10,290	9,203
Non-Compete Agreements
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life	1 year
Cost	$ 450	450
Accumulated Amortization	$ 360	$ 293

Estimated Amortization Expense

Estimated Amortization Expense (Detail) $ in Thousands	Apr. 30, 2018USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Estimated annual amortization expense, For the fiscal year ending July 31, 2018	$ 55,118
Estimated annual amortization expense, For the fiscal year ending July 31, 2019	50,043
Estimated annual amortization expense, For the fiscal year ending July 31, 2020	46,194
Estimated annual amortization expense, For the fiscal year ending July 31, 2021	42,860
Estimated annual amortization expense, For the fiscal year ending July 31, 2022	37,753
Estimated annual amortization expense, For the fiscal year ending July 31, 2023 and thereafter	211,498
Estimated annual amortization expense, Total	$ 443,466

Intangible Assets and Goodwil45

Intangible Assets and Goodwill - Additional Information (Detail) - USD ($) $ in Thousands	Apr. 30, 2018	Jul. 31, 2017
Intangible Assets And Goodwill [Line Items]
Goodwill	$ 377,693	$ 377,693
Recreational vehicles | Towables
Intangible Assets And Goodwill [Line Items]
Goodwill	334,822	334,822
Other
Intangible Assets And Goodwill [Line Items]
Goodwill	$ 42,871	$ 42,871

Equity Investment - Additional

Equity Investment - Additional Information (Detail) - USD ($)	Feb. 15, 2018	Apr. 30, 2018	Apr. 30, 2018
Schedule of Equity Method Investments [Line Items]
Cash contributed in joint venture			$ 46,902,000
TH2
Schedule of Equity Method Investments [Line Items]
Cash contributed in joint venture	$ 46,902
Losses from investment		$ 399	$ 399
TH2
Schedule of Equity Method Investments [Line Items]
Ownership percent	50.00%
Tourism Holdings Limited ('thl') | TH2
Schedule of Equity Method Investments [Line Items]
Ownership percent	50.00%

Concentration of Risk - Additio

Concentration of Risk - Additional Information (Detail) - Customer Concentration Risk [Member] - Freedom Roads, LLC	9 Months Ended		12 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Jul. 31, 2017
Net Sales
Concentration Risk [Line Items]
Concentration risk percentage	20.00%	18.00%
Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage	18.00%		30.00%

Product Warranties - Additional

Product Warranties - Additional Information (Detail)	9 Months Ended
	Apr. 30, 2018
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	3 Months Ended		9 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2018	Apr. 30, 2017
Product Warranty
Beginning balance	$ 243,310	$ 209,173	$ 216,781	$ 201,840
Provision	71,037	50,358	198,079	146,454
Payments	(54,218)	(44,613)	(154,731)	(133,376)
Ending balance	$ 260,129	$ 214,918	$ 260,129	$ 214,918

Long - Term Debt - Additional I

Long - Term Debt - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2018	Apr. 30, 2017	Jul. 31, 2016	Jul. 31, 2017
Line of Credit Facility [Line Items]
Line of credit, outstanding amount	$ 80,000		$ 80,000			$ 145,000
Interest expense	1,383	$ 2,547	4,149	$ 7,593
Fees to secure the facility, amortized amount			$ 1,177	1,177
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, outstanding amount	80,000		$ 80,000			145,000
Line of credit, borrowing availability	415,808		415,808
Interest expense	$ 584	$ 1,879	$ 1,742	$ 5,583
Weighted-average interest rate on borrowings	2.92%	2.38%	2.72%	2.25%
Fees to secure the facility, amount incurred					$ 7,850
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 | Other Noncurrent Assets [Member]
Line of Credit Facility [Line Items]
Fees to secure the facility, unamortized amount	$ 4,972		$ 4,972			$ 6,149
Asset-based revolving credit facility | Interest expense
Line of Credit Facility [Line Items]
Fees to secure the facility, amortized amount	$ 392	$ 392	$ 1,177	$ 1,177

Provision for Income Taxes - Ad

Provision for Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		5 Months Ended	9 Months Ended		12 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Dec. 31, 2017	Apr. 30, 2018	Apr. 30, 2017	Jul. 31, 2018
Income Tax [Line Items]
Effective income tax rate	25.90%	33.10%		32.80%	33.00%
Corporate tax rate	21.00%		35.00%
Additional income tax expense benefit due to change in tax rate				$ 34,000
Expected decrease in unrecognized tax benefits due to resolution of uncertain tax positions	$ 2,990			2,990
Expected decrease in interest due to resolution of uncertain tax positions				$ 330
Scenario Forecast
Income Tax [Line Items]
Corporate tax rate						26.90%

Contingent Liabilities, Commi52

Contingent Liabilities, Commitments and Legal Matters - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2018	Jul. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Standby repurchase obligations amount	$ 3,221,914	$ 2,200,544
Term of commitments	Up to eighteen months
Repurchase and guarantee reserve balances	$ 8,850	$ 6,345

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2018	Apr. 30, 2017
Stock Based Compensation And Stockholders Equity [Line Items]
Total compensation expenses	$ 4,255	$ 3,166	$ 12,986	$ 9,058
Withholding taxes payable			7,657	4,572
Restricted Stock Units (RSUs)
Stock Based Compensation And Stockholders Equity [Line Items]
Withholding taxes payable			$ 7,657	$ 4,572

Subsequent Event - Additional I

Subsequent Event - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	May 31, 2018	Apr. 30, 2018	Apr. 30, 2017	Jul. 31, 2017
Subsequent Event [Line Items]
Revolving credit facility debt payments		$ 65,000	$ 65,000
Line of credit, remaining outstanding amount		80,000		$ 145,000
Asset-based revolving credit facility
Subsequent Event [Line Items]
Line of credit, remaining outstanding amount		$ 80,000		$ 145,000
Subsequent Event | Asset-based revolving credit facility
Subsequent Event [Line Items]
Revolving credit facility debt payments	$ 60,000
Line of credit, remaining outstanding amount	$ 20,000