$THO
THOR INDUSTRIES INC

2018 Q2 Form 10-Q Financial Statement

#000119312518185624 Filed on June 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $2.252B $2.015B
YoY Change 11.73% 56.94%
Cost Of Revenue $1.935B $1.721B
YoY Change 12.4% 59.08%
Gross Profit $316.7M $293.8M
YoY Change 7.79% 45.51%
Gross Profit Margin 14.07% 14.58%
Selling, General & Admin $119.4M $111.1M
YoY Change 7.49% 37.47%
% of Gross Profit 37.71% 37.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.53M $23.89M
YoY Change -1.51% 94.68%
% of Gross Profit 7.43% 8.13%
Operating Expenses $119.4M $111.1M
YoY Change 7.49% 37.47%
Operating Profit $197.3M $182.7M
YoY Change 7.98% 50.88%
Interest Expense $1.383M $2.547M
YoY Change -45.7% 1434.34%
% of Operating Profit 0.7% 1.39%
Other Income/Expense, Net -$1.966M $1.070M
YoY Change -283.74% 19.55%
Pretax Income $180.5M $166.2M
YoY Change 8.6% 42.95%
Income Tax $46.74M $54.97M
% Of Pretax Income 25.89% 33.07%
Net Earnings $133.8M $111.3M
YoY Change 20.2% 41.6%
Net Earnings / Revenue 5.94% 5.52%
Basic Earnings Per Share $2.54 $2.12
Diluted Earnings Per Share $2.53 $2.11
COMMON SHARES
Basic Shares Outstanding 52.70M 52.58M shares
Diluted Shares Outstanding 52.85M 52.77M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $147.0M $189.4M
YoY Change -22.39% -23.41%
Cash & Equivalents $147.0M $189.4M
Short-Term Investments
Other Short-Term Assets $14.90M $6.000M
YoY Change 148.33% -91.38%
Inventory $607.2M $459.7M
Prepaid Expenses
Receivables $632.5M $579.4M
Other Receivables $25.70M $36.90M
Total Short-Term Assets $1.427B $1.271B
YoY Change 12.27% 30.48%
LONG-TERM ASSETS
Property, Plant & Equipment $490.6M $394.8M
YoY Change 24.26% 54.51%
Goodwill $377.7M $377.7M
YoY Change 0.0% 24.44%
Intangibles
YoY Change
Long-Term Investments $46.50M
YoY Change
Other Assets $948.5M $933.9M
YoY Change 1.56% 99.56%
Total Long-Term Assets $1.439B $1.329B
YoY Change 8.31% 83.65%
TOTAL ASSETS
Total Short-Term Assets $1.427B $1.271B
Total Long-Term Assets $1.439B $1.329B
Total Assets $2.866B $2.600B
YoY Change 10.25% 53.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $354.0M $343.5M
YoY Change 3.07% 74.11%
Accrued Expenses $189.7M $158.7M
YoY Change 19.53% 58.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $855.6M $778.4M
YoY Change 9.91% 76.28%
LONG-TERM LIABILITIES
Long-Term Debt $80.00M $295.0M
YoY Change -72.88%
Other Long-Term Liabilities $54.57M $45.68M
YoY Change 19.46% 53.36%
Total Long-Term Liabilities $145.3M $349.7M
YoY Change -58.45% 481.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $855.6M $778.4M
Total Long-Term Liabilities $145.3M $349.7M
Total Liabilities $1.001B $1.128B
YoY Change -11.28% 124.86%
SHAREHOLDERS EQUITY
Retained Earnings $1.954B $1.569B
YoY Change 24.58% 20.77%
Common Stock $255.1M $239.3M
YoY Change 6.59% 4.62%
Preferred Stock
YoY Change
Treasury Stock (at cost) $343.7M $336.1M
YoY Change 2.28% 1.38%
Treasury Stock Shares 10.07M shares 10.01M shares
Shareholders Equity $1.866B $1.472B
YoY Change
Total Liabilities & Shareholders Equity $2.866B $2.600B
YoY Change 10.25% 53.14%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $133.8M $111.3M
YoY Change 20.2% 41.6%
Depreciation, Depletion And Amortization $23.53M $23.89M
YoY Change -1.51% 94.68%
Cash From Operating Activities $140.4M $130.0M
YoY Change 8.0% 39.78%
INVESTING ACTIVITIES
Capital Expenditures -$37.00M -$28.60M
YoY Change 29.37% 91.95%
Acquisitions
YoY Change
Other Investing Activities -$46.50M $700.0K
YoY Change -6742.86% -275.0%
Cash From Investing Activities -$83.50M -$27.80M
YoY Change 200.36% 81.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -19.60M -47.50M
YoY Change -58.74% 198.74%
NET CHANGE
Cash From Operating Activities 140.4M 130.0M
Cash From Investing Activities -83.50M -27.80M
Cash From Financing Activities -19.60M -47.50M
Net Change In Cash 37.30M 54.70M
YoY Change -31.81% -11.49%
FREE CASH FLOW
Cash From Operating Activities $140.4M $130.0M
Capital Expenditures -$37.00M -$28.60M
Free Cash Flow $177.4M $158.6M
YoY Change 11.85% 46.99%

Facts In Submission

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us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
95837000
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
46902000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-1271000
us-gaap Net Income Loss
NetIncomeLoss
341946000
us-gaap Interest Paid
InterestPaid
3087000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
146697000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
173388000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
341946000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7657000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
58492000
us-gaap Investment Income Interest
InvestmentIncomeInterest
1242000
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-18030000
us-gaap Income Taxes Paid
IncomeTaxesPaid
186166000
us-gaap Gross Profit
GrossProfit
920258000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
65000000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3366000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
14141000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
508681000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2082000
us-gaap Depreciation
Depreciation
28270000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
69506000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
166735000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
29595000
us-gaap Interest Expense
InterestExpense
4149000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3656000
us-gaap Share Based Compensation
ShareBasedCompensation
12986000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
10253000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-141996000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
370800000
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
154731000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
5534540000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
49383000
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-330000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1177000
CY2017Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.33
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
41236000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-76239000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-131428000
tho Terms Of Commitments Under Repurchase Agreements For Repurchase Of Products Sold To Dealers
TermsOfCommitmentsUnderRepurchaseAgreementsForRepurchaseOfProductsSoldToDealers
Up to eighteen months
tho Tax Cuts And Jobs Act Of2017 Incomplete Accounting Provisional Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingProvisionalIncomeTaxExpenseBenefit
34000000
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.11
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52773106 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52582134 shares
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.12
CY2017Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
190972 shares
CY2017Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.331 pure
CY2017Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
50358000
CY2017Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
2015224000
CY2017Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
28233000
CY2017Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
111263000
CY2017Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
205000
CY2017Q2 us-gaap Gross Profit
GrossProfit
293841000
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1070000
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
166231000
CY2017Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
23893000
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
54968000
CY2017Q2 us-gaap Interest Expense
InterestExpense
2547000
CY2017Q2 us-gaap Share Based Compensation
ShareBasedCompensation
3166000
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
111122000
CY2017Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
44613000
CY2017Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1721383000
CY2017Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
15216000
CY2018Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.37
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.53
CY2018Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52853541 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52695365 shares
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.54
CY2018Q2 us-gaap Gross Profit
GrossProfit
316745000
CY2018Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1934825000
CY2018Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
158176 shares
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.259 pure
CY2018Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
71037000
CY2018Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
2251570000
CY2018Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
34171000
CY2018Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
133788000
CY2018Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
460000
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1966000
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
180525000
CY2018Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
23533000
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
46737000
CY2018Q2 us-gaap Interest Expense
InterestExpense
1383000
CY2018Q2 us-gaap Share Based Compensation
ShareBasedCompensation
4255000
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
119449000
CY2018Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
54218000
CY2018Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
13882000

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