THOR INDUSTRIES INC Goodwill & Intangibles Disclosure
| July 31, 2025 | July 31, 2024 | |||||||||||||||||||||||||
| Cost | Accumulated Amortization | Cost | Accumulated Amortization | |||||||||||||||||||||||
| Dealer networks/customer relationships | $ | 1,126,554 | $ | 696,064 | $ | 1,107,396 | $ | 610,106 | ||||||||||||||||||
| Trademarks | 360,291 | 135,063 | 353,435 | 114,272 | ||||||||||||||||||||||
| Design technology and other intangibles | 268,148 | 165,108 | 259,660 | 134,980 | ||||||||||||||||||||||
| Total amortizable intangible assets | $ | 1,754,993 | $ | 996,235 | $ | 1,720,491 | $ | 859,358 | ||||||||||||||||||
| For the fiscal year ending July 31, 2026 | $ | 110,334 | |||
| For the fiscal year ending July 31, 2027 | 101,466 | ||||
| For the fiscal year ending July 31, 2028 | 92,491 | ||||
| For the fiscal year ending July 31, 2029 | 76,563 | ||||
| For the fiscal year ending July 31, 2030 | 60,951 | ||||
| For the fiscal year ending July 31, 2031 and thereafter | 316,953 | ||||
| $ | 758,758 | ||||
| North American Towable | North American Motorized | European | Other | Total | ||||||||||||||||||||||||||||
Net balance as of July 31, 2023 | $ | 337,883 | $ | 65,064 | $ | 965,758 | $ | 431,717 | $ | 1,800,422 | ||||||||||||||||||||||
Fiscal year 2024 activity: | ||||||||||||||||||||||||||||||||
| Goodwill acquired | — | — | — | 3,635 | 3,635 | |||||||||||||||||||||||||||
| Foreign currency translation and other | — | — | (17,084) | — | (17,084) | |||||||||||||||||||||||||||
Net balance as of July 31, 2024 | $ | 337,883 | $ | 65,064 | $ | 948,674 | $ | 435,352 | $ | 1,786,973 | ||||||||||||||||||||||
Fiscal year 2025 activity: | ||||||||||||||||||||||||||||||||
| Foreign currency translation and other | — | — | 54,145 | — | 54,145 | |||||||||||||||||||||||||||
Net balance as of July 31, 2025 | $ | 337,883 | $ | 65,064 | $ | 1,002,819 | $ | 435,352 | $ | 1,841,118 | ||||||||||||||||||||||
| North American Towable | North American Motorized | European | Other | Total | ||||||||||||||||||||||||||||
| Goodwill | $ | 348,032 | $ | 82,316 | $ | 1,002,819 | $ | 435,352 | $ | 1,868,519 | ||||||||||||||||||||||
| Accumulated impairment charges | (10,149) | (17,252) | — | — | (27,401) | |||||||||||||||||||||||||||
Net balance as of July 31, 2025 | $ | 337,883 | $ | 65,064 | $ | 1,002,819 | $ | 435,352 | $ | 1,841,118 | ||||||||||||||||||||||
| North American Towable | North American Motorized | European | Other | Total | ||||||||||||||||||||||||||||
| Goodwill | $ | 348,032 | $ | 82,316 | $ | 948,674 | $ | 435,352 | $ | 1,814,374 | ||||||||||||||||||||||
| Accumulated impairment charges | (10,149) | (17,252) | — | — | (27,401) | |||||||||||||||||||||||||||
Net balance as of July 31, 2024 | $ | 337,883 | $ | 65,064 | $ | 948,674 | $ | 435,352 | $ | 1,786,973 | ||||||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Sep 24, 2025 | Showing above |
| 2024 | Sep 24, 2024 | |
| 2023 | Sep 25, 2023 | |
| 2022 | Sep 28, 2022 | |
| 2021 | Sep 28, 2021 | |
| 2020 | Sep 28, 2020 | |
| 2019 | Sep 30, 2019 | |
| 2018 | Sep 20, 2018 | |
| 2017 | Sep 27, 2017 | |
| 2016 | Sep 26, 2016 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.