v3.24.3
BUSINESS SEGMENTS
 12 Months Ended
Jul. 31, 2024
Segment Reporting [Abstract]  
BUSINESS SEGMENTS BUSINESS SEGMENTS
The Company has three reportable segments, all related to recreational vehicles: (1) North American Towable Recreational Vehicles, (2) North American Motorized Recreational Vehicles and (3) European Recreational Vehicles.

The North American Towable Recreational Vehicle reportable segment consists of the following operating segments that have been aggregated: Airstream (towable), Heartland (including Cruiser RV and DRV), Jayco (including Jayco towable, Starcraft and Highland Ridge), Keystone (including CrossRoads and Dutchmen), and KZ (including Venture RV). The North American Motorized Recreational Vehicle reportable segment consists of the following operating segments that have been aggregated: Airstream (motorized), Jayco (including Jayco motorized and Entegra Coach), Thor Motor Coach and Tiffin Group (namely, Tiffin Motorhomes, Inc.). The European Recreational Vehicles reportable segment consists solely of the EHG business. EHG manufactures a full line of towable and motorized recreational vehicles, including caravans, motorcaravans, urban vehicles and campervans in eight primary RV production locations within Europe. EHG produces and sells numerous brands primarily within Europe, including Buccaneer, Buerstner, Carado, CrossCamp, Dethleffs, Elddis, Eriba, Etrusco, Hymer, Laika, LMC, Niesmann+Bischoff, Sunlight and Xplore. In addition, EHG’s operations include other RV-related products and services.

The operations of the Company’s Postle and Airxcel subsidiaries are included in “Other”, along with the operations of Roadpass Digital through December 30, 2022 as discussed in Note 8 to the Consolidated Financial Statements. Net sales included in Other related primarily to the sale of specialized component parts and aluminum extrusions. Intercompany eliminations primarily adjust for Postle and Airxcel sales to the Company’s North American Towables and North American Motorized segments, which are consummated at established transfer prices generally consistent with the selling prices of products to third parties.

Total assets include those assets used in the operation of each reportable and non-reportable segment, and the Corporate assets consist primarily of cash and cash equivalents, deferred income taxes, deferred compensation plan assets, equity and other investments and certain Corporate real estate holdings primarily utilized by THOR’s U.S.-based operating subsidiaries.
202420232022
NET SALES:
Recreational vehicles
North American Towable$3,679,671 $4,202,628 $8,661,945 
North American Motorized2,445,850 3,314,170 3,979,647 
Total North America6,125,521 7,516,798 12,641,592 
European3,364,980 3,037,147 2,887,453 
Total recreational vehicles9,490,501 10,553,945 15,529,045 
Other781,927 777,639 1,225,824 
Intercompany eliminations(229,020)(209,979)(442,344)
Total$10,043,408 $11,121,605 $16,312,525 

INCOME (LOSS) BEFORE INCOME TAXES:
Recreational vehicles
North American Towable$169,232 $237,123 $1,050,536 
North American Motorized126,496 255,207 436,604 
Total North America295,728 492,330 1,487,140 
European231,377 179,625 87,116 
Total recreational vehicles527,105 671,955 1,574,256 
Other, net45,299 36,965 110,798 
Corporate(223,560)(209,567)(225,190)
Total$348,844 $499,353 $1,459,864 
 
20242023
TOTAL ASSETS:
Recreational vehicles
North American Towable$1,290,117 $1,429,899 
North American Motorized1,077,808 1,268,109 
Total North America2,367,925 2,698,008 
European2,871,316 2,898,175 
Total recreational vehicles5,239,241 5,596,183 
Other, net1,058,842 1,048,076 
Corporate722,740 616,571 
Total$7,020,823 $7,260,830 
202420232022
DEPRECIATION AND INTANGIBLE ASSET AMORTIZATION EXPENSE:
Recreational vehicles
North American Towable$54,716 $60,880 $65,260 
North American Motorized34,789 32,639 29,088 
Total North America89,505 93,519 94,348 
European126,831 121,464 131,518 
Total recreational vehicles216,336 214,983 225,866 
Other, net58,233 60,172 56,855 
Corporate2,576 1,773 1,732 
Total$277,145 $276,928 $284,453 


CAPITAL ACQUISITIONS:
Recreational vehicles
North American Towable$16,938 $63,898 $72,892 
North American Motorized16,329 42,902 36,321 
Total North America33,267 106,800 109,213 
European70,497 65,745 97,328 
Total recreational vehicles103,764 172,545 206,541 
Other, net26,108 34,190 33,162 
Corporate9,745 2,173 858 
Total$139,617 $208,908 $240,561 

DESTINATION OF NET SALES BY GEOGRAPHIC REGION:
United States$6,190,597 $7,444,023 $12,235,760 
Germany2,023,566 1,816,282 1,728,565 
Other Europe1,343,081 1,220,158 1,158,563 
Canada435,839 587,559 1,132,788 
Other foreign50,325 53,583 56,849 
Total$10,043,408 $11,121,605 $16,312,525 

20242023
PROPERTY, PLANT AND EQUIPMENT BY GEOGRAPHIC REGION:
United States$787,696 $806,230 
Germany448,182 433,136 
Other Europe137,588 139,188 
Other17,252 9,254 
Total$1,390,718 $1,387,808